Leveraging Digital Finance and Payments of Credit Unions to Increase Resilience of its Members in Timor-Leste

05.07.2021 Delegation to TIMOR-LESTE

This project aims to create and strengthen digital financial ecosystems that support low-incomehouseholds, individuals (particularly women, youth, and farmers in remote, rural areas) by providing credit unions (CUs) with a digital platform to channel their payments to their members. Credit unions have solid links and presence outside the urban centers of Dili and/or other municipalities. At the same time, there are limited DFS products and services available for clients.

In this project, UNCDF will support the Secretary of State for Cooperatives (SECoop), the government body responsible for monitoring and supervising CUs. SECoop will work with its implementing partner, Telemor Fintech (TF), to provide a digital solution, a phone-based e-wallet. CUs’ members will transact – receive loans, make loan repayments and make deposits/savings. Additionally, other services will be made available through the platform, such as transfer from B2W/W2B, transfer from P2P, top-up, buy data, and other payments.

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