M-vendr to accept Wala digital currency at mPOS
18 October 2017 | 2285 views | 0
Financial platform Wala has announced a partnership with M-vendr, the provider of mobile Point of Sale (PoS) apps for small retailers and informal traders.
The deal is a significant step for digital currencies in emerging markets, combining free banking services with a simple and accessible way to purchase goods within over 30,000 merchants across 15 countries.
Wala is a best-of-breed financial platform built on the Ethereum blockchain. It’s mission is to help the 3.5 billion underserved and unbanked emerging market consumers reach financial prosperity by eliminating their barriers to banking. The Dala token is the utility token of the platform, allowing users to transfer value to other users for goods and services.
“The partnership with M-vendr is the first step in moving away from cash to digital transactions,” says Wala Founder and CEO Tricia Martinez. “It’s exciting news for our community as it enables them to buy goods and services from not only small businesses and pop-up shops on the side of the road, but also large utility companies - all through the Wala application. The process is simple, seamless and without charges. We’re thrilled that M-vendr share the same ethos as us, and we can simultaneously add value to each other’s communities.”
In addition to a retail point of sale network, M-vendr enables direct access to mobile network operators, utility companies, TV providers and other public and private services. This means Wala customers can buy their airtime or pay bills directly from their Dala accounts, and they will also be able to make purchases for friends and family either in the same region or globally.
Michael Charangwa, CEO of M-vendr, states: “Our companies are built on the same foundation; a belief that new technologies should take the complexity out of financial services in emerging markets. We’re thrilled to partner with Wala, and the 1,000’s of merchants utilising the M-vendr powered PoS are really excited to start Wala financial services and accepting Dala tokens as it will add immense value to their customers.”
Furthermore, these PoS locations will enable users cash-in, cash-out and soon, the purchase and sale of Dala tokens. Uganda is the first market for Wala and M-vendr, but not the last thanks to M-vendr’s massive reach.
To help build the financial platform needed, Wala is the launch partner for a new financial services utility token, Dala, which will be sold and issued in a crowdfunding token sale this October.