DéMars is a payment solutions service based on the Stellar Blockchain. The service is focused on enabling instant cross-border micropayments within and to Africa majorly for Inter-Africa migrants and the diaspora.
DéMars is focused on making it possible to send less than $10 back home in real time with a cost of no more than 1%.
DeMars has to date launched an Android wallet as its sole application product. There will be a web wallet launched towards the end of 2019 which will be offered to online merchants. This will enable us to reach a whole new market with zero chargeback risk.
Our focus: Towards a Financially Inclusive Africa
Cross-border payments to and within the African continent are among the most expensive in the world. More people migrate within the African continent than from it. These migrants often do not have the means to send money home, since many cannot obtain bank accounts or meet the minimum payment thresholds and fees set by the various money transfer operators within continent.
The DéMars Solution
DéMars is solving these problems by building and connecting Digital Asset issuers across the Continent. This will enable migrants to instantly send money home, no matter how small the sum, and can make a huge difference to their families.
• A mobile wallet App: DéMars has published an Android Mobile Wallet application, known as DMC, to hold and transact with Digital Assets based on the Stellar Network.
• The DMC mobile wallet App has a simple user interface, where its customizable functionality enables users to quickly and easily add verified and native Digital Assets.
• The Digital Assets are currently anchored on South African Rands (ZAR), the DéMars Coin (DMC), Nigerian Naira Tethered (NGNT) and shortly will include Kenyan Shillings (KES) and Zimbabwean Dollars (ZWL) too.
• Users can securely deposit, exchange and transact within the mobile wallet.
DéMars will operate on the Stellar Network Anchor: An anchor is an entity on the Stellar Network which is trusted to take deposits, hold collateral and issue credit in the form of a Digital Asset onto the network.
DéMars is integrating its wallets with the existing Anchors, building and operating Sandbox Anchors and working with existing financial services who wish to participate on the Network.
The DéMars team are able to build custom solutions for regulated financial service providers who require technical guidance and support. These solutions can be fully integrated and connected to existing systems.
DéMars will also offer branded android wallets, API’s and a market making bot.
Merchants who retain funds within the wallet, will pay zero fees and withdrawals costing only 1%.
For customers, transactions will be free, with no need to carry a card. The customer can simply open the DMC Wallet App, select the currency to pay with, scan the QR code of the participating merchant and tap pay. Transactions are processed and confirmed within 5 seconds.
Stellar Network Fees
Transaction Fee: 100 Stroops (Fractions of cent)
Base reserve/Minimum Balance: 0.5 XLM
Third Party Fees
There are unfortunately some fees which DéMars have no control over, like government transaction taxes and banking charges. An example of these are in Zimbabwe where all electronic transactions incur a 2% government sanctioned transaction tax. Similarly, when a cash deposit is made into any of the South African DéMars bank accounts, the user will be liable for the cash deposit fee.
Earn 5 Stellar Lumens (XLM) for testing the DMC mobile wallet App by downloading the App and opening an account.
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