Monetas launches its software technology in partnership with the Tunisian Post Office, La Poste Tunisienne, and Tunisian technology startup DigitUs. By powering Tunisia’s national financial infrastructure with Monetas technology, La Poste Tunisienne will offer its clients nationwide access to instant, secure, and affordable merchant payments, remittances, and more.
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. Total transaction fees will be of negligible cost, even from amounts less than a fraction of a dinar, and in most cases fees are paid by merchants. The maximum fee paid on a transaction will be less than 1 dinar. La Poste Tunisienne will strictly control the issuance and circulation of the eDinar 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 Chakchouk 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."
About Monetas
Monetas is a software technology company based in Switzerland, founded in 2012 by Johann Gevers and Chris Odom. Monetas is developing technologies that empower people to live and do business with greater freedom than ever before, enabling a world of unprecedented prosperity.
The Monetas platform is an advanced transaction technology that uses a secure digital notary to enable financial and legal transactions, public or private, worldwide. Using the Monetas platform, institutions, businesses, and individuals can conduct transactions with all types of financial instruments, including all national and digital currencies, using only a smartphone. This brings financial services to the world’s 2.5 billion unbanked adults.
The digital notary has the flexibility and power to process any kind of financial or legal transaction in real time and at negligible cost, and provides interoperability across mobile networks and national borders.
Monetas enables partners to expand financial inclusion to anybody with a smartphone, eliminating the need to develop costly brick-and-mortar banking networks. This dramatically lowers transaction costs, making it possible for everyone to participate.
Monetas was recently announced winner of the Swisscom StartUp Challenge 2015. Monetas has a fast growing international team of 27 engineers and business professionals, and is currently valued at over CHF 90 million.
(Press Release)
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