Monetas Announces Pilot Launch for Nationwide Transaction Platform for Tunisia’s Postal Servicesby Fintechnews Switzerland October 8, 2015
Monetas, a Swiss software startup specialized in financial infrastructures, has announced the pilot launch for a nationwide financial platform for Tunisia’s national postal services, la Poste Tunisienne.
The pilot is a collaborative effort of Monetas, which will provide la Poste Tunisienne with its financial infrastructure for digital payments, and Tunisian technology startup DigitUs.
The platform will enable citizens to access advanced financial services including instant, secure and affordable merchant payments and remittances.
Commenting on the pilot launch, Moez Chakchouk, CEO of la Poste Tunisienne, said:
“At La Poste we are on a transformation journey to modernize our services with innovative technologies and power the digital economy. Digital, Mobile, and Internet, are all key components in this transformation.”
According to the companies, the intention behind this new infrastructure is to increase financial inclusion for citizens “with an open mobile money platform that is able to operate across networks,” Johann Gevers, the founder and CEO of Monetas said in a statement.
“This is an important first step towards a freer and more prosperous world.”
In Tunisia, more than 3 million people are still excluded from the financial system. However, more than 600,000 people are already using the official digital wallet service e-Dinar, or Dinar Electronique.
Launched in 2000 by the Tunisian Post as part of the government’s e-tijara program, e-Dinar is a digital wallet service linked to a virtual bank account. The account can be credited with top up cards or via bank transfers. Users are provided with a payment card called e-Dinar Universel that allows them to make online payments, withdraw cash at ATMs and pay brick-and-mortar merchants that are equipped with an Electronic Payment Terminal.
With the Poste Tunisienne payment app powered by Monetas, users of e-Dinar will be able to make instant money transfers, shop online and at brick-and-mortar businesses, send remittances, pay bills, manage official governmental identification documents, and more, the company said.
Transaction fees will be negligible, even for micropayments, and should not exceed one third of a dinar (~US$0.17), the company said.
Founded in 2012, Monetas is a software company based in Switzerland. Powered by blockchain technology, Monetas’ platform enables individuals, businesses and governments to make all kinds of financial and legal transactions, public or private, worldwide.
Monetas was recently announced as one of the winners of the Swisscom Startup Challenge 2015 and is said to be valued at over CHF 90 million.