Dashen Bank is the first private bank in Ethiopia, established in 1995, and one of the most reputable banks in the Ethiopian banking market. EagleLion System Technology is an Ethiopian private company delivering easy and user-friendly financial solutions to the local market. It produced CashGo, GuzoGo, GetRooms, isitmydam, and more up to global standards. Dashen Bank and EagleLion System Technology introduce Dube Pay using a buy-now-pay-later payment method.
Dube is coined from the Amharic word Dube referring to a buy-now-pay-later scheme. Dube pay functions similar to a credit card, allowing customers to purchase goods and services on credit. Users get credit from suppliers enrolled on the platform to buy flight tickets, electronic equipment, and more. Buy-now-pay-pater (BNPL) allows customers to pay in installments with minimal or no additional costs. The service is short-term financing aimed at helping people dealing with cash shortages. Dube Pay app is available for Android and iOS users in five languages.
Buyers create an account and can review their credit amount, minimum monthly payment, payment due date, payment summary, credit increment request, payment alternatives, and more. Merchants also create an account and can collect fees and review their transaction history. The bank anticipates changing the financial sector with this new payment service.