By digitizing the informal sector, we enable the formalization of a large sector, increasing transparency, security and economic growth. SMARTR.TAX 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 is part of the agreement.
Payments to the municipality are secured
By digitizing the informal sector the merchant can be ensured that the payments arrive to its destination and that they do not end up in the pockets of any middlemen - it prevents leakage of funds.
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.TAX Red Flash also introduces a digital infrastructure for micro-insurances to the informal sector. We are initially focusing on health-, hospitalization-, fire- and damage insurances.
Access to more financial services
Integrating merchants into our SMARTR.TAX platform builds a credit record for the merchant. 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.