Apr 30 , 2022
Dashen Bank has inked a deal with fintech firm EagleLion System Technology to introduce a credit-based application. Dubbed “DubePay”, the app will allow businesses to sell goods and services to consumers on a 'buy now, pay later' basis. Bank executives say that clients will be able to use the app to buy everything from household commodities to vehicles. Registered merchants will be able to use the platform to collect receivable payments and analyse users' transaction history. EagleLion is the company behind CashGo, a digital remittance platform working with the Bank of Abyssinia. Last month, central bank regulators ordered the Bank to stop using the platform. Dashen Bank remains one of the largest private commercial banks. It netted 1.73 billion Br in profits last year, recording a 12pc growth.
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