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Importance of last mile payments

Alexis Steckel

July, 27, 2023

1 min. reading

Last mile payments have long been a challenge in the world of financial transactions. The ability to seamlessly and efficiently transfer funds to individuals in remote areas or underserved regions is crucial for financial inclusion and economic empowerment. 

In a recent webinar hosted by Airtm, a leading peer-to-peer payments platform, the focus was on exploring the importance of last mile payments and how Airtm is revolutionizing this space. Let’s delve into the key takeaways from the webinar and understand why last mile payments are relevant in today’s digital economy.

The webinar, hosted by Priscilla Ma, Stellar Development Foundation’s ecosystem growth lead, included engaging conversations with Lisa Nestor, Airtm’s Chief Strategy Officer, and Manuel Angel Hakim, Airtm’s VP of Growth.

Importance of last mile payments

Last mile payments refer to the final leg of a financial transaction, where funds are delivered to the intended recipient. It is often the most challenging part, particularly in underserved regions with limited access to traditional banking infrastructure. Last mile payments play a vital role in various contexts, including facilitating remittances, supporting freelance work, and enabling micropayments for content creators. 

By addressing the challenges of last mile payments, financial services can reach individuals who were previously excluded from the formal economy, fostering financial inclusion and empowering communities.

Airtm’s role in last mile payments

Airtm is revolutionizing last mile payments with its innovative peer-to-peer payments platform. The platform leverages blockchain technology, specifically the Stellar network , to enable seamless and secure transactions across borders.

Airtm acts as a bridge between traditional financial systems and the digital economy, providing individuals with access to financial services and empowering them to participate in the global marketplace.

Key features and benefits

Airtm’s peer-to-peer approach allows for faster, more cost-effective transactions compared to traditional remittance methods. This enables individuals to receive funds quickly and efficiently, overcoming the challenges posed by slow and expensive remittance services.

Furthermore, one of the significant advantages of Airtm is its focus on compliance and security. By implementing robust KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures, Airtm ensures that transactions are conducted safely and transparently.

The power of self-custody wallets

Airtm also highlights the importance of self-custody wallets, which give individuals full control over their funds. By utilizing self-custody wallets, users can securely store their digital assets and facilitate peer-to-peer transactions directly, eliminating the need for intermediaries. Airtm’s platform provides a seamless experience for individuals to access and utilize their funds, enhancing financial autonomy and flexibility.

In an increasingly interconnected world, last mile payments are crucial for empowering individuals and communities. Our webinar highlighted the significance of these payments and showcased how their platform is  revolutionizing the space. By leveraging blockchain technology, adhering to compliance standards, and offering self-custody wallets, we enable individuals to participate in the digital economy and access financial services that were previously out of reach. With Airtm’s innovative solutions, last mile payments become a catalyst for financial inclusion, driving economic growth and empowering individuals worldwide.

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