Since the launch of the Amole Digital Wallet in Ethiopia in July 2018, spearheaded by Ethiopia-based Fintech Moneta Technologies and Dashen Bank, underpinned by CR2’s Digital Banking Platform, Dashen Bank has transformed its digital customer base by a phenomenal 4,000%, accelerated customer acquisition, enhanced its liquidity position and is now deeply embedded in the daily spending habits of millions of Ethiopians.
The word ‘amole’ comes from the 16th-century bars-of-salt money first introduced by the Amole tribe of Ethiopia. The Amole Digital Wallet is thus integrated into the rich history of one of the world’s oldest civilisations.
Prior to the launch of the Amole Digital Wallet, mobile money operators and banks offered very limited services – transactions still needed to be completed in person and using cash and there was no integration between bank accounts and wallets.
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A Massive success
The introduction of Amole has proved to be a roaring success. By December 2020, over 2m customers had been registered on the platform, representing a significant boost to Dashen’s digital customer base, which was just 50,000 when the project started.
Amole is certainly playing a significant role in moving Ethiopia to a cashless society, with the digital payment platform already surpassing the number of card transactions in retail environments, and accounts for over 50% of DStv payments across the country.
The very rapid take-up of the wallet is a clear indication that it was a digital revolution waiting to happen in what is clearly evolving into a prime market.
How To Send Money Using Amole
Option 1: USSD *996#
Step 1: Dial *996#
Step 2: Select option number one (login) and enter PIN to login
Step 3: Choose option number one (transfer) from the listed service to transfer Money
Step 4: And select option number three *within Dashen Bank*
Step 5: Choose the sending/ source account “account from”
Step 6: Enter the recipient account number on the field
Step 7: Check the account name and insert small “s” to continue
Step 8: Enter payment amount with reference/narrative
Step 9: Check the recipient account name and insert 1 to submit a final payment
Option 2: Amole App (Application)
Step 1: Enter your username and password to login to the system
Step 2: Select transfers within Dashen to make a transaction
Step 3: Then select new account transfer
Step 4: Write the following necessary information on the blank page
- Recipient name
- Select sending/ source account
- Enter the recipient account number and check the name look up appear
- Enter the transfer amount
- Enter your and recipient reference to be appear on balance statement( if any)
- Finally choose among pay once, save & pay and save to make payments
Step 5: Finally; check the credited account number and recipient name again, the click on PAY butt
Option 3: Amole Web
Step 1: Enter your username and password to login to the system
Step 2: Select and click on payment and transfer from the page
Step 3: Choose transfer within Dashen from the given service items
Step 4: Select new account transfers and fill the following information on the field
- Recipient name
- Select sending/ source account
- Enter the recipient account number and check the name look up appear
- Enter the transfer amount
- Enter your and recipient reference to be appear on balance statement( if any)
Step 5: Finally, choose among pay once, save & pay and save to make payments
