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Pyypl Team
May 7
/
5 mins

What is Pyypl and How Does It Work?

Decoding Pyypl's Functionality

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Summary

Founded in the UAE in 2017, Pyypl (pronounced “people”) is a FinTech company that promotes financial inclusion through technology. We exist because we believe everyone in the digitalising world should have a chance to use theirmoneysafer, faster, and smarter than cash. Our innovative technology enables people to use all essential financial services directly from their smartphone in a simple, secure and affordable way.

What is financial inclusion?

Financial inclusion means giving everyone access to essential banking services, regardless of their economic status. Countless people are left out of the economy because of their ineligibility to open a bank account. This could be due to low salaries, lack of awareness or lack of accessibility. There are about 1.4 billion people in the world who remain unbanked due to these reasons.

Without access to traditional banking, making payments and receiving income can be quite a struggle. People are often forced to make frequent trips to exchange houses and ATMs, stand in lines, deal in cash and pay higher fees on transactions and remittances.

How does Pyypl help?

Pyypl offers an internationally accepted prepaid Mastercard that can be used by anyone, anywhere. The app is 100% digital, with no requirements for paperwork. No bank account is needed, no minimum salary, no minimum balance, no post-dated cheques, and no branch visit.

Our goal is to help the unbanked and underserved take control of their financial life. Anyone can apply and get their very own Mastercard in 2 minutes, which they can use to shop and pay across millions of merchants online wherever Mastercard is accepted. In addition to a virtual Mastercard, we also offer a physical card that can be delivered to your home. Simply take it wherever you go and use it to shop with contactless payments across millions of stores worldwide.

Moreover, the Pyypl app can also be used to send money to over 40+ countries, making it easy for anyone to transfer funds without having to stand in queues or pay exorbitant exchange rates. We are a pioneering company in the Middle East and Africa region and we’re just getting started.

Is Pyypl safe to use?

Pyypl is designed to be the safest possible way to store your money. Your payments are protected with advanced data encryption, and you’re always informed of your account usage through push notifications, SMSs and emails.

Moreover, Pyypl is regulated by the ADGM Financial Services Regulatory Authority, so you can rest easy knowing your money is in safe hands. We adhere to the highest standards of compliance and have strict policies to ensure the highest level of security.

Getting started with Pyypl

If you’re unable to open a traditional bank account or are simply looking for an alternate payment method, simply follow the steps below to get your Pyypl Mastercard:

  1. Download the Pyypl app on the Google Play store or App Store
  1. Sign up with a valid ID or passport
  1. Create a unique passcode to keep your app secure
  1. Take a quick selfie for face ID verification

That’s it. Once your registration is complete, simply top up your Pyypl app through a debit card, a bank account, a mobile wallet or through one of the 2000+ kiosks around the UAE and use it online or in stores anywhere in the world. Top up methods vary by country, so make sure to check your available methods by visiting the Pyypl website.

Download Pyypl and get started by clicking here.

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