Safaricom M-PESA and Abay Bank entered a mobile banking and agency partnership

Safaricom M-PESA Mobile Financial Services PLC and Abay Bank have signed a partnership agreement for super agency, retail agency, and mobile banking services.

Through this collaboration, all M-PESA customers in Ethiopia will be able to deposit and withdraw cash at all Abay Bank branches. Customers of Abay Bank will enjoy the convenience of keeping track of their finances via Abay Bank's mobile banking through USSD (*811#) and mobile app using their Safaricom 07 line to transfer money from their Abay bank account to their M-PESA wallet and vice versa, pay bills, check account balances, purchase airtime, and access other mobile banking services from the bank.

Customers with a Safaricom line are required to visit their nearest Abay Bank Branch with a valid ID card to integrate their Abay Bank account into their Safaricom lines.

“As we continue to explore strategic partnerships, we are keen to collaborate with all financial sector players to provide digital payment solutions to our customers, allowing them to do more with their Safaricom line. We are excited to collaborate with Abay Bank to enable our customers to deposit and withdraw cash at any of the bank’s branches and use the Bank’s digital channels to transfer money in to their wallet and vice versa.” said Paul Kavavu, General Manager of Safaricom M-PESA.

"Digitalization being one of our strategic pillar to deliver our services 24/7 with the most effective and efficient way, I am delighted to sign this partnership with Safaricom M-PESA. This collaboration shows our commitment to bring new services to our customers. With this partnership, we aim to bridge the gap between traditional banking and the digital age, empowering our customers with seamless access to financial services anytime, anywhere. By investing more on our digital banking system and leveraging our joint expertise, we will continue to innovate and enhance the way people manage their finances, making banking more convenient, secure, and inclusive. Together, we will redefine the future of financial services, ushering in a new era of digital banking that empowers individuals and transforms communities." said Yehuala Gessesse, CEO of Abay Bank.