Sevak Solutions

Sevak Solutions goal is to "...To promote inclusive systems for the delivery of financial services to the world’s 1.7 billion urban and rural poor..." Their:

Remote Transaction System (RTS) is an open source solution for capturing financial transactions in rural areas...is composed of a hardware device, known as a point-of-sale (PoS) terminal, a specialized software application, smart cards, and a RTS back-end system. All transactions that are captured on the PoS terminal are uploaded to an RTS server (simple PC). The data then moves through a connector to the accounting systems of the appropriate microfinance institution.

To address the "...high cost of entry required for participation in formal payment systems..." the y have developed the Falcon System which:

a combination of a card management system, a transaction switch module, a batch processing payments and funds distribution facility to allow for the processing of Electronic Funds Transfers (EFT), and an interface module that allows the solution to connect to ATMs, point-of-sale devices, SWIFT, VISA, and MasterCard. The solution is also compliant with electronic funds transfer (EFT) and CRM (customer relationship management) standards.