Previously known as TchTcho, the service offered by FINCA in partnership with Digicel has been relaunched as MonCash. In a project funded by the Swiss fun SCBF, MonCash allows clients to make free loan repayments on their cell phones. This allows FINCA to expand its reach in remote areas at a low cost and to test branchless banking while, most importantly, offers greater convenience to clients.
The real benefit to clients is the saving on transport costs, travel time and added security of not having to travel with money. Clients can visit MonCash agencies in supermarkets or money change bureaus and recently, several FINCA clients have been trained as MonCash SubAgents. Seen below Myrtil Witny and Myrlande Louis, two of this team of 18.
Currently there are 1412 MonCash users and FINCA Haiti plans to have 4000 by April. So far 443 clients have been trained on using this service and another 400 will be trained by April.