Dahabshiil, Somalia-based international money transfer business, has launched a new debit card service to help individuals and businesses make and receive payments. The service, called Dahabshiil eCash, will enable customers to pay for goods and services at any shop, restaurant, hotel or petrol station that is an official Dahabshiil merchant and has a point of sale terminal on the premises.
Dahabshiil eCash is available to all customers with a Dahabshiil account and debit card transactions are made via internet connection, which means that the money is transferred from the card holder’s account to the merchant’s account immediately. The debit card requires both PIN and signature authorisation and all transactions are protected by the industry standard SSL 128 bit encryption.
Dahabshiil plans to expand its eCash service to utility providers and major educational institutions in Somalia to allow students to pay for tuition fees. It is also expected to incorporate the eCash service into its worldwide remittance business, providing its customers with a more secure, accessible and protected service for receiving remittances from friends and family living in abroad.
Abdirashid Duale, CEO of Dahabshiil, said: “We are delighted to be the first company in the region to provide our customers with the facility to make and receive payments via debit card. This underlines our intention to be at the forefront of the region’s banking and money transfer sectors. We believe Somalis here have the same needs as people in the UK or America and that’s why the debit card will make their lives easier. We hope Dahabshiil eCash will help create a cashless society. While the central focus of Dahabshiil eCash is the customer, it is great that local businesses and the Somali economy will reap the benefits of the service too.”
