SantimPay has rolled out FrankRemit, first fully integrated, zero-fee digital remittance platform, in partnership with Bank of Abyssinia(BOA). The service smoothly connects all commercial banks and major mobile money providers, including Telebirr, M-Pesa, and CBE Birr which is a first of its kind in the country. FrankRemit is expected to revolutionise how the Ethiopian diaspora sends money home. Developed locally and tested over the past two weeks with successful transfers from multiple countries, the app promises fast, secure transfers for the diaspora. The launch event at the Hilton Addis, on May 21, drew high-profile attendees, including SantimPay CEO Tinsae Desalegn, Ambassador Fitsum Abegaz of the Ethiopian Embassy in Washington, and executives from Oromia Bank and BOA. "FrankRemit addresses the frustrations of the diaspora by making money transfers faster, more reliable, and secure," said Tinsae. A live demo and a message from brand ambassador Tewodros Legesse noted the platform’s ease of use and impact. Despite the reforms, remittances remain below potential, a gap FrankRemit seeks to close. The platform also introduced the FrankCard, a diaspora gift card service in collaboration with Oromia Bank and Shoa Supermarket, a prepaid gift card for diaspora members to support families in the country beyond cash. FrankRemit offers competitive rates, simple steps, and a bonus on first transfers, setting a new standard in the fin-tech landscape.
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