By digitizing the informal sector, we help to formalize a large sector increasing transparency, security and economic growth. SMARTR.CITY will give the following benefits for the merchants:
Digital permits and receipts
The permits issued are the proof that the merchant has a formal relationship with the city and that the merchant has the right to conduct business in a specific area. Payment transactions are digitally stored and the proof that the merchant has honored his part of the agreement.
Payments to the municipality are secured
By digitizing the informal sector the merchant can be ensured that the payments are arrive to its destination and that they do not end up in the pockets of any middlemen.
EQUALITY: The same rules apply to everyone
By making the tax collection more efficient more merchants will contribute to the development of the society and fees will be distributed more fairly.
Access to insurances
When introducing SMARTR.CITY Red Flash also introduces micro insurances to the informal sector. We are initially focusing on health-, hospitalization-, fire- and damage insurances.
Access to more financial services
When integrating merchants into SMARTR.CITY a credit record of the merchant is gradually established. By analyzing stored information and the use of services we will be able to offer micro credits to the merchants further boosting the economic development in cities. Additional digital financial services will be added further down the line.