Around 2.5 million households are financially excluded. Meaning that they either have no
bank account or only a basic bank account which offers a limited range of services.

The cost of financial exclusion to these households is estimated to be as high as £1000 per annum. These households often have to go to the post office bank branch every time they want to withdraw cash or make a payment - a costly inconvenience for some but for those with mobility issues a genuine struggle.

HomePay is a new service specifically designed for financially excluded households.

HomePay enables users to make transactions, pay bills, and manage their money - all from their TV sets. Users also receive a visa prepay top up card for use at ATMs and shops.

This solution has been enabled by a unique hardware innovation of a set-top box that can deliver financial services and be controlled from a secure remote control.

HomePay is also a low cost way of delivering a range of income maximisation services that help make sure users are making the most of their money.

HomePay has been designed to meet the needs of users who have limited mobilities. Users
simply tap their prepay top up card onto their HomePay remote control to securely access their HomePay account.

Over the medium run, HomePay will develop into a full a “jam jar” account, that is, an
account which enables people to manage their money better by automatically designating their funds and will even provide low-cost emergency loans to users.
An open system, HomePay can integrate with a range of other digital services such as social media, telecare or smart energy management and so offers significant opportunity for the development of further applications.

The project will develop a prototype of HomePay and trial it in 20 financially excluded
households.