Ethio telecom has partnered with Visa to launch Ethiopia’s first wallet-based Virtual Visa Card.
The partnership which was announced on Tuesday also seeks to enhance the current international money transfer remittance services through the introduction of telebirr Remit App and Visa Direct, promising substantial improvements in the efficiency and security of money transfers in the country.
Visa Direct service enables Visa cardholders around the world to transfer money to Ethiopia using telebirr virtual card number. To receive money from overseas via Visa Direct, customers must first register for Virtual Visa service using telebirr Super App and share the 16-digit virtual Visa card number with the sender, which will be received within one hour.
telebirr Remit service on the other hand is designed to enable customers residing abroad to securely send money instantly to their friends and relatives’ telebirr mobile number utilizing the cyber source payment gateway of Bank of Abyssinia. This is facilitated by installing the newly developed telebirr Remit App on their mobile devices.
With this service, Ethio telecom says customers can receive remittances from nine countries, namely the United States, Canada, Israel, Saudi Arabia, the United Arab Emirates, the United Kingdom, South Africa, Italy, and Sweden, by sharing their Telebirr mobile numbers.
‘’It is anticipated that the service’s coverage will expand further in response to customer demand, incorporating additional countries over time.’’ Ethio telecom said in a statement.
This partnership between Visa and Ethio telecom enables customers to obtain a Virtual Visa Card number and presents enhanced alternatives to traditional remittance through Visa Direct and telebirr Remit.
Additionally, it extends the service by facilitating seamless online cross-border payments, including for e-commerce in the near future.
‘’This significantly broadens our country’s digital financial ecosystem and enhances the conveniences available to citizens. These new services also aim to foster job creation and propel the transition towards establishing a cashless digital society, ultimately providing enhanced benefits to our valued customers.’’ Ethio telecom said.
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