Dashen Conveys Buy Now Pay Later

Jan 14 , 2023

Customers of Dashen Bank get to enjoy a credit service through an application launched last week. The Bank President Asfaw Alemu said the App gives access to buy goods and services through credit, allowing a later payment with interest. He implied anyone with a Dashen Bank account could get a credit based on the amount in the savings account. Asfaw said in partnership with Eagle-Lion System Technology, the Bank has turned the traditional deferred payment purchase scheme digital, during the official launching ceremony held at Sheraton Addis. Dubbed Dube Ale, the credit form is hoped to be an antidote to the infamous credit stopper quote, "Dube Yelem", according to Bank executives. Under Besufekad Getachew, the local EagleLion System Technology is working on easing the payment process by providing loans, hotel bookings and payments at gas stations through digital technologies. The company was incorporated two years ago with 15 million Br capital. Yonael Belete, manager for Boston Partners, said they have been working with the Bank for over two years, particularly on tech-based services. The App is expected to boost the customer base of business partners, enabling them to render a "buy now, pay later" method that would otherwise be constrained by the limited ability to pay upfront. Firehiwot Fisseha, marketing officer for Waryt Furniture, hopes the platform will allow customers who fall short to make a one-time payment.