Visa partners with Ethio Telecom to offer digital payments in Ethiopia

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