The thesis
1.5 billion adults have no bank.
More than 30% of the world's adults live without financial infrastructure — and in many of those places the official rails are not trusted even where they exist. Nal gives those communities the benefit of rails and their analytics while keeping cash circulating. Cashless cash.
Why this works
Narrow in execution. Broad in what it can become.
- Closed-loop wins where open rails cannot reach
- In contained economies the money does not need to leave the community — it needs to be visible while it circulates. A closed loop gives institutions the analytics and reconciliation of modern software without asking anyone to trust, or qualify for, a bank.
- The same rails serve every vertical
- Identity, wallets, acceptance and reconciliation are the primitives. A school canteen, a temporary market and a loyalty programme are configurations of the same four things, which is why three products came from one platform rather than three teams.
- Reliability is the product
- Built for the conditions our institutions actually operate in: peak-hour queues, staff turnover, budget Android tablets, intermittent connectivity. Under 100ms authorization is a design constraint, not a benchmark.
Platform
The building blocks.
Shared primitives that power all three products. Soon available via API.
Wallets & Balances
Real-time balance tracking with instant top-ups and transfers. The core primitive developers interact with most.
Identity & Roles
One system, many institutions. Each runs their own rules.
Acceptance
POS integration, NFC cards, and QR-based payment acceptance.
Reconciliation
Automated settlement with real-time reporting and audit trails.
Integrations
APIs, webhooks, and SDKs for seamless system integration.
Security
End-to-end encryption, fraud detection, and compliance controls across every transaction.
Traction
Eighteen months in production.
- February 2025
- Live since
- 3
- Live institutions
- 3
- In pilot
- 500
- Cards issued
- 5,000
- Transactions
- $10,000+
- Processed
- <100ms
- Authorization
Every figure above traces to a single internal source of truth and is enforced by a test in this repository. Where a number is not yet verified, it is not shown.
What's next
More verticals on the rails that already run.
University campuses, summer camps, corporate cafeterias, gyms and sports leagues are the same four primitives in a different configuration. Expansion is sales execution, not a new platform.
A public API for partners is planned for Q3 2026.
The company
Nal Software OÜ
We started in a school canteen in Jerusalem, because that is where the problem was in front of us. Today the same rails run three institutions, with three more piloting, alongside temporary markets and shops.
support@nalcard.com