Start-up communications company, VideoKall Inc. announced it has been working in stealth mode for some time with strategic partners on a video payphone-based Electronic Fund Transfer service called VideoKall for personal use and for migrant workers who have no bank accounts.
The VideoKall service will provide public video payphones in shopping malls in several US states where Mexican, Filipino and Indian migrant workers are frequent visitors. The service will include video payphones in shopping malls in several cities in Mexico, The Philippines and India. In the US, the company will also provide, in malls, cash loaders which dispense SMART cards for cash, and in the overseas malls cash dispensers which dispense local currency, when users insert SMART cards, loaded with value for transfer, during a VideoKall.
VideoKall will uniquely provide migrant workers in the US with a state-of-the-art electronic fund transfer service which allows both sender and recipient to see each other on a video payphone before and during the money transfer. The system is designed for simplicity, and does not require the participants to have a bank account or disclose their name. The company’s web site http://www.videokall.com will contain a list of the locations and phone numbers of all the public video payphones in the network. Workers in the US will purchase SMART cards to the value of the remittance they wish to send abroad, and then SMS text message their relatives abroad to let them know the mall location plus the phone number of the video payphone and the date and time they will call. The incentive for both parties to visit a mall, at a predetermined time to make the transfer, is great because VideoKall offers for the first time, anywhere in the world, the opportunity for both parties to ‘meet’ each other through the video payphone connection, and also to transfer funds instantly during the video call, from a SMART card in the US video payphone, to a SMART card in the video payphone overseas.