Visa partners with Ethio Telecom to offer digital payments in Ethiopia
Date: 2024-08-20
Visa
has announced a strategic partnership with Ethio Telecom, Ethiopia's leading
telecommunications firm, to introduce a suite of innovative digital payment
services. This collaboration, which also involves Bank of Abyssinia, aims to
enhance financial inclusion and economic growth in the country.
The
partnership will see the launch of a virtual card, integrated within Ethio
Telecom's Telebirr app and the newly introduced Teleremit app, powered by
Visa's Cybersource platform and Visa Direct. This will enable secure,
efficient, and affordable remittances for the Ethiopian diaspora sending money
back home.
According
to Yared Endale, Country Lead at Visa on his Linkedin social media post, this
partnership represents a significant technological leap and demonstrates Visa's
commitment to digital transformation in Ethiopia. The initiative aims to bridge
the gap between those with and without access to financial services, empowering
individuals and making financial transactions more secure and efficient.
By: Nana Appiah Acquaye
