Today Monetas, the Swiss software startup is announcing the pilot launch of its software technology in Tunisia in partnership with the Tunisian Post Office, La Poste Tunisienne, and Tunisian technology startup DigitUs.
Today more than 3 million Tunisians are excluded from the financial system, but more than 600,000 are already using the official digital eDinar. With the La Poste Tunisienne app powered by Monetas, eDinar will be used to make instant mobile money transfers, pay for goods and services online and in person, send remittances, pay bills, manage official government identification documents, and more. Transaction fees will be negligible, even for tiny transactions of a few milims (one thousandth of a dinar), and in most cases the fees are paid by merchants and free to consumers. Even for the largest transactions the maximum transaction fee will be less than a third of one dinar. La Poste Tunisienne will strictly control the issuance and circulation of the eDinar+ currency in order to prevent it from being used for illegal transactions.
Speaking about this step towards a nationwide rollout, Monetas Founder and CEO Johann Gevers says, “We are delighted to be working in partnership with the Tunisian Government, National Post, and DigitUs to increase financial inclusion with an open mobile money platform that is able to operate across mobile networks. This is an important first step towards a freer and more prosperous world.”
La Poste Tunisienne CEO M. Moez Chackchouk said, “La Poste is a very important and trusted institution and is at the heart of financial inclusion efforts in Tunisia. 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. Monetas and DigitUs help us to bring these ingredients to the table.”