Innovation

Expanding access to Digital Payments in Ethiopia

Visa has affirmed its commitment to expanding digital payments in Ethiopia by working closely with the financial ecosystem to bring the benefits of digital payments to consumers, merchants, financial

A series of partnerships were announced during an inaugural Visa Payments Forum that brought together key stakeholders from the digital payments industry to discuss opportunities that exist to develop the payments ecosystem in the country.

The partnerships announced are:

·         Partnership agreement with Ethiopian Airlines to launch a co-branded card to ShebaMiles members across the Continent.

·         An agreement and implementation with Bank of Abyssinia and Dashen Bank/Moneta (Amole) Technologies focused on supporting eCommerce growth and helping more online businesses accept digital payments.

·         Partnership with Kifiya Financial Technology, providing local digital payments across mobile and online payments.

·         Partnership with BelCash Technologies that will support the development of cross-border payment solutions for the East-African financial institutions and helping grow eCommerce to unlock the country’s digital potential.

·         Licensing partnership with Cooperative bank & Oromia International Bank.

Visa has also undertaken two initiatives to drive financial inclusion and job creation within Ethiopia with STEMPower and the Visa Everywhere Initiative in Ethiopia, an initiative aimed at supporting the development of innovative fintechs. 

“At Visa, we are extremely pleased to have a local presence in one of the most exciting countries in Africa. I am happy to announce that we have worked with our partners in market towards enabling digital commerce. We’re are excited to support the goals of the Ethiopian economy, where financial inclusion will play an important part in enabling the overall growth journey. We see great opportunity here and are committed to playing our part in bringing more people into the financial system and supporting economic progress,”. - Aida Diarra, Senior Vice President & Head of Visa in Sub Saharan Africa.

Tag: Payment technology