IslamicFinance.de

The Swiss start-up Monetas claims a new mobile phone payment technology will transform people’s lives in Africa. The Tunisian National Post invited the Swiss firm to pilot its technology in October in conjunction with local firm DigitUs. Once all integrations with the existing e-dinar system are finalised, the Monetas system will first target retailers before reaching out to the general population. Monetas has big plans for expansion, having started exploratory talks with 12 other African nations with a combined population of 300 million. It is also developing savings accounts and is looking into other financial services, such as micro credits.