Monday, June 17, 2024
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FenanPay: The new payment system in Ethiopia

Photo By Anteneh Aklilu

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By Eyasu Zekarias

Btnet Technology Solutions has introduced FenanPay, a revolutionary digital payment system that aims to eliminate the commission charges imposed by financial institutions on money transfers. This innovative solution allows organizations to integrate various payment options into their online applications swiftly, typically within a day.

Currently, many organizations bear high commission fees when working with financial institutions. However, FenanPay offers a system where organizations can potentially pay zero percent commission. The commission fees will be determined based on the overall activity and efficiency of the organizations. Those unable to achieve a zero percent commission will still benefit from the lowest commission fee available in the market through the system’s provided options.

BtNet is actively updating FenanPay to create a modern digital payment system that eliminates the need for financial intermediaries. The system aims to facilitate online payments and establish seamless connections between businesses and banks for secure transactions.

FenanPay addresses the industry’s challenges by prioritizing security, user-friendly applications, and a wide array of options. It caters not only to individual users but also to institutions and private government organizations, enabling hassle-free online payments.

According to Binyam Negus, CEO of BtNet Technology Solutions Plc, many organizations currently face high commission charges from financial institutions, sometimes as high as 4 percent. FenanPay presents an opportunity for companies to potentially pay zero percent commission, contingent on their overall activity and efficiency. Institutions that cannot achieve a zero percent commission will benefit from the system’s options, ensuring they pay the minimum commission fee available in the market.

BtNet is committed to supporting companies in their technological journey by providing technical assistance and support. FenanPay allows customers to make payments without sharing sensitive bank account or mobile banking information, reducing the burden on organizations and enhancing user convenience.

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