Nearex aims to empower people by simplifying proximity transactions such as Micropayments using mobile technology. It was founded by veterans from the mobile and financial industry with extensive exposure to emerging markets where mobile money services are driving large-scale financial inclusion for mostly unbanked societies. Nearex team has realized that enabling cashless, small day-to-day payments using mobile wallets in the emerging world is a business opportunity worth hundreds of billion dollars annually. Mobile phones address the consumer side of this need but unless all small merchants can accept mobile payments, cashless micropayments will remain a myth. Any solution has to be as easy to use as cash, while being affordable for both sides. Nearex has developed Xip, a mobile micropayment solution that meets this very need.