Sierra Leonean payments company Monime launched Dash in Freetown on 7 November, an app that lets people pay straight from their bank accounts using a name tag instead of an account number. Unlike a mobile money wallet, Dash holds no balance: money stays in the bank until it reaches the recipient, whether a Dash user, a bank account or a mobile money wallet, and a partnership with Afrimoney opens more than 2,500 merchants to bank-funded payments. Monime, licensed by the Bank of Sierra Leone, already connects over 2,000 businesses to banks, mobile money and cards. Dash could give bank accounts the everyday reach of mobile money, provided enough banks link up and fees stay competitive.
Sources
- Sierraloaded: https://sierraloaded.sl/local/monime-dash-making-bank-payments-easier/
- Dash (Monime): https://dashit.to/
- Monime: https://monime.io/