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Haiti Makes History with First Digital Terrestrial Television

A Major Breakthrough for the Haitian Media Landscape

PORT-AU-PRINCE, Haiti - The country has successfully launched its first digital terrestrial television (DTT) service, marking a significant milestone in the evolution of digital technology in Haiti.

A Brief History of Digital Technology in Haiti

Haiti’s journey towards embracing digital technology began in 1996 with the introduction of international credit cards from Visa and Mastercard. Since then, the country has made steady progress towards adopting digital financial transactions.

  • In June 2010, Digicel and Comcel/Voila launched their respective electronic wallets, Tcho Tcho and T cash.
  • In March 2012, Digicel acquired Comcel-Voilà, and T-Cash merged with Tcho Tcho Mobile.
  • In May 2013, Lajan Cash was introduced as a new digital financial product allowing users to pay for purchases using their mobile phones.

Digital Transactions Soar

According to figures released by MonCash, the company has exceeded 900,000 customers, with over 2,200 active agents and 7.1 million transactions worth $44 million in March 2018 alone.

  • The remarkable growth is attributed to improvements made in the Tcho Tcho mobile model, including agent rewards, liquidity, and price decline.

Competition Heats Up

The entry of Lajaon Cash into the digital financial market has introduced a new competitor for MonCash. Initially available at select supermarkets, Lajaon Cash can now be used at over 39 BNC branches and serves more than 800,000 customers across Haiti’s 10 departments.

New Debit Cards Emerge

Two mobile network operators in Haiti have launched debit cards, allowing users to open bank accounts remotely and perform transactions with non-bank correspondents.

  • Sogebank’s “SogeIzi” card allows users to access their savings accounts at Sogebank branches, agencies, and ATMs.
  • The chart below illustrates the number of transactions carried out via debit cards between 2012 and 2016:

Panorama of Digital Financial Potential

Today, Haiti’s financial landscape consists of seven commercial banks serving two million customers, 52 financial cooperatives serving 912,806 members, and 132 microfinance institutions with 250,000 clients.

  • With an estimated 25.7% of the population interested in mobile banking services, there is significant potential for digital financial services (SFD) in Haiti.
  • However, to facilitate expansion, it is crucial that stakeholders learn from the lessons gained so far and propose appropriate solutions to address the challenges facing the sector.

About MonCash

MonCash is a leading digital financial services provider in Haiti, offering innovative solutions for individuals and businesses. With over 900,000 customers, MonCash has become a household name in Haiti’s financial landscape.