Visa and Oromia Bank have announced a strategic partnership aimed at expanding access to Visa- branded prepaid solutions for the bank’s customers across Ethiopia.
This partnership, announced on Monday, will ensure a secure and accessible prepaid payment solution across Ethiopia, positioning it as a rapidly transitioning cash-based economy to a digital economy system.
Under this new agreement, Oromia Bank will roll out a tiered portfolio of prepaid cards, including Visa Prepaid Classic for everyday spending, Visa Prepaid Gold for growing consumer needs, and Visa Prepaid Platinum tailored for premium users and frequent travellers.
These cards are designed to provide Ethiopian consumers with seamless options for in-store shopping, online purchases, and international travel wherever the Visa network is accepted.
Obbo Teferi Mekonnen, Chief Executive Officer of Oromia Bank, stated, “ Partnering with Visa reinforces our commitment to delivering modern, secure and accessible payment experiences. Through a differentiated prepaid card portfolio, we aim to provide our customers with greater flexibility and confidence when transacting both locally and internationally.”
To strengthen digital payments security and risk control, Visa and Oromia Bank will collaborate to implement Visa risk and authentication capabilities, consisting of Visa Advanced Authorisation (VAA), Visa Risk Manager ( VRM), and Visa Consumer Authentication Service ( VCAS) for applicable transactions.
“ Ethiopia is an important and dynamic market, and we are pleased to deepen our collaboration with Oromia Bank. Together we will help broaden access to digital payments and strengthen the foundations for secure electronic commerce through Visa’s global network,” said Yared Endale, Head, Eastern Africa and Country Manager – Ethiopia at Visa.
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