HA-M1020 : Improving remittance services and promoting investments in Haiti

Fonkoze has been working to improve the access and the use of remittances in the rural areas of Haiti and propose to pilot new remittance services that bring a direct benefit to the consumers, both sender and beneficiary. For that, it has entered into a partnership with City National Bank of New Jersey for deployment of a Visa Prepaid/Payroll Card that facilitates the Diaspora's ability to send funds to the rural areas of Haiti by using card-based technology. This technology lowers the fees, increases security and simplifies the process of sending remittances, thereby enabling increased investment in the rural economies of Haiti. The projects will achieve this goal through financial education, and distribution of a low cost financial product for Haitian clients within the United States, the Visa Prepaid/Payroll Card.