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A Personal Mobile Health Wallet for Underserved Global Emerging Markets

Imagine a near-future scenario where hundreds of millions of people in emerging markets can seek affordable health advice, arrange consultations with doctors and specialists, order medicines and pay for services on their smartphone, even if separated from doctors, hospitals, and clinics by hundreds of miles.

According to Deloitte, healthtech, after fintech, is thought to be the most promising new mobile growth channel. The proliferation of smartphones, and super apps, are increasingly seen as a way to provide low cost, easily accessible healthcare, to hundreds of millions of people in underserved emerging markets globally.

For many people in emerging markets, the smartphone has become the de facto form of communication and access to the internet. In 2021, more than 200 million people connected to the mobile internet for the first time, bringing the total to 4.19 billion people (53% of the global population). By 2025, this number will rise to 5 billion, equivalent to three in five people globally.

Growth of the mobile wallet has been attributed to the displacement of cash, bank transfers and card transactions as consumers seek secure payment methods and more convenient ways of purchasing goods and services via the smartphone. Furthermore, many consumers in emerging markets, particularly younger ones, who don't have a bank account, are opting for the use of digital mobile wallets due to their ease of access.

A recent study by Boku and Jupiter Research found that 7 of the top 10 fastest growing countries for mobile wallet purchases hailed from the emerging market regions.

Asia-Pacific will grow fastest, with cashless transaction volume increasing by 109% from 2020 to 2025 and then by 76% from 2025 to 2030, followed by Africa (78%, 64%) and Europe (64%, 39%). Latin America comes next (52%, 48%), and the US and Canada will have the least rapid growth (43%, 35%).

4.2 billion people, or over 50% of the world's population live in emerging markets.

The World Health Organisation (WHO) measures access to healthcare in terms of the number of doctors per 10,000 of population. Over 40% of WHO Member States report to have less than 10 medical doctors per 10,000 population. In many emerging markets the average number is less than 3.

Millions of people in emerging markets are at high risk of illness or injury, with no immediate access to healthcare. Often, they need to travel considerable distances and endure lengthy waiting times to see a doctor.

We plan to democratise the healthcare and insurance markets in these regions, by delivering accessible and affordable primary healthcare direct to the public via our m-Health platform and digital mobile health wallet.

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