Skip to content

theFatherofWallets.com. The story begins….

One day I sent 10k USD. From Luxembourg to Poland, between major banks. USD is not in SEPA baking system, and must have been processed through SWIFT – a system from era of telegraf and telex. To my surprise it cost me an arm and a leg: 500 USD, which makes 5% of transferred sum. The best is, that the price is known after the deal, so the banks are taking a percentage from the transferred amount and You never know how much it costs until You actually buy it. It is not acceptable, that sending 10k USD between two countries on the same continent (like EU) lasts 2 days and costs… 500USD, which makes 5% of the sum. One may buy an airline ticket and send courier with the money in banknotes – it will be not only faster than SWIFT, but also cheaper. This shows how outdated and irrelevant is now global backbone of sending money.

Our mission is to deliver new class solution which will replace and bank centric SWIFT system. We will not try to connect banks – they are mostly outdated, reminiscent of old times, just like fixed-line operators in todays world – no one really cares about them, once they held millions of subscribers. Same fate awaits banks – they are already dead, although they are still operating. Empty spaces, bureaucracy, slow like snails, complicated procedures, fine print contracts, crazy currency exchange rates – all is a nightmare. No one likes to go to the bank nor log in and make transactions by entering endless rows of digits, passwords, customer numbers, one time passwords, SMS, email verification… If You enter bank with a money – they will treat You like a thief. If You enter without a money – the will treat You like a beggar. None of those is comfortable. So we do not believe banks will be in the future and we think no-one will regret it. Overregulated corpo monsters, which feed themselves with endless paper processes looped in – there will not be much crying at the funeral. Just like fixed telephony operators – the quietly passed away with no regrets.

We believe in new era solutions. Keeping money with mobile money operators or digital curreny – either privately governed or social governed like crypto, or backed by states like digital Juan. Nowadays local solutions, like www.PayTM.com have sometimes great saturation at particular markets and may even dominate local markets. Indeed, PayTM has for example 300 Million users in India. However, users may use only Rupias and can not send money abroad. It works perfectly on the local market – simple, available in every phone, transitioning online. There are hundreds of such good local systems. Blik in Poland (www.blik.com), www.mPesa.com who started in Kenya, Ideal (https://www.ideal.nl/en/ideal-information/ ) from the BeNeLux market, www.Sofort.de from Germany and many more. Let me mention here www.WeChatPay.com or www.AliPay.com  services from the East or www.PayPal.com or www.amazonpay.com from the West.  These systems are lighthouses of future in the darkness of current banksters era. These solutions will define the future of payments – online, fast just like a message in WhatsApp, seamless as using mobile phone. However, there are hundreds of standards and each system aspires to dominate the others.

We understand the necessity of connecting these systems in one network of local systems, thus enabling transmitting money between local solutions. We will connect local perfect solution with each other, making universal web for money transit. We would like to be like international carriers for mobile operators – there is always a mobile operator on which network the conversation starts and the other on whose network the conversation terminates. Between them are international carriers, who connect different, local standards and facilitate international traffic.  This is future role for our Geneva based organization. will start small, by connecting online local e-wallets and by enabling to transfer between local e-wallets small amount in an online mode with marginal law costs. The journey begins today. We encourage You to follow our growth:

As per www: www.thefatherofwallets.com
As per facebook: (8) Thefatherofwallets.com | Geneva | Facebook
As per Instagram: https://www.instagram.com/fatherofwallets/
And on Twitter: https://twitter.com/FatherOfWallets

What is Mobile Money?
Mobile money is a recent innovation that provides financial transaction services via mobile phone, including to the unbanked developing countries. The technology has spread rapidly in the developing world, “leapfrogging” the provision of formal banking services by solving the problems of weak institutional infrastructure and the cost structure of conventional banking. This blog examines the evolution of mobile money and its important role in widening financial inclusion. The evidence convincingly suggests that mobile money fosters risk-sharing, but direct evidence of the promotion of welfare and saving is still mostly rather less robust.

We will soon create more explanation as we growth.