Digital Financial Solutions
Digital Microcredit Limited has been offering the following Hi-tech online digital financial solutions as a way of embracing financial deepening and inclusion:
- Digital Loan
We developed and rolled out digital loans and credit services, to address challenges of accessibility of loans and credit by MSMEs, Cooperatives and rural communities as well as other vulnerable sections of the society. The whole loan process from application, appraisal, disbursement and repayment is automated hence removing physical barriers to access our financial services. Depending on speed of connectivity through mobile network providers, our clients are able to access our loans and financial services at their convenience.
- Digital Bulk Payment
In an effort to harness the mobile and digital revolution that has touched millions of lives in the world, we launched a unique product – Digital Bulk Payment that allows Multiple and Bulk Payment from our Bank Account to Client Bank Accounts in a single transaction. This Facility accommodates a maximum of 1000 payments to various clients’ accounts in different banks within a short period of time.
- Digital Wallet and Cardless Withdrawal
This is a truly unique remittance solution whereby we transfer funds from our online banking platform to non-account holders across the country by creating a Digital Wallet. The service is available on Digital Mobile and Cardless Withdrawal online facilities. That is, a Digital Wallet can be created from a transfer made from our Digital Mobile Solution to a recipient’s phone number as well as an Enterprise Solution for making electronic bulk payments
from our corporate account to multiple accounts of beneficiaries or mobile numbers through creation of e-wallet.Once this Wallet has been created, the recipient can purchase Airtime, ESCOM prepaid and pay for water bills as well as direct payments to various merchants. A recipient can also redeem cash from any of First Capital Bank and Standard Bank ATM’s through Cardless Withdrawal functionality. The recipient is required to enter phone number, a six-digit code and amount at the ATM and funds are disbursed. The uniqueness of this solution is that the beneficiary does not need to even have a bank account or an ATM card
- Digital Mobile Money
This payment solution was developed to cater for clients in remote areas where there are no formal banking services and ATM Machines. This financial solution addresses the needs of clients who have no access to bank accounts as we transfer and push money from our Bank Accounts to either AIRTEL Money or TNM Mpamba Wallets. This solution is ideal for offsite disbursement of funds such as payments for Daily Subsistence Allowance, Salaries, Social Cash Transfers, Transport reimbursements and any other cash payment arrangements for corporate clients based on their instructions
