ADDIS ABABA – The Commercial Bank of Ethiopia (CBE), the largest commercial bank in Ethiopia, and MasterCard launched physical and virtual international cards yesterday to expand digital connectivity.
During the launch event, CBE’s President Abie Sano stated that the new plastic and virtual international cards would play a significant role in enhancing secure and convenient access to the global digital system.
According to him, the new card services will further support Ethiopia’s efforts to modernize financial services and expand digital inclusion.
“Millions of merchants have been utilizing MasterCard services to run their businesses easily, and this launch program will help expand connectivity both locally and internationally,” he added.
He further stated that working together would increase the number of mobile app service users from the current 40 million.
MasterCard’s Africa Division President Mark Elliott on his part, said that the launch marks a key milestone in MasterCard’s strategy to grow in emerging African markets. MasterCard is a proud partner of CBE in delivering secure and convenient digital solutions that enable millions in the country to participate in the global digital economy.
He added that the collaboration bridges gaps by offering digital payment options, fostering greater economic participation, and enhancing financial inclusion. It supports the broader goals of realizing the “Digital Ethiopia 2025” initiative in alignment with CBE’s strategy.
Elliott further stated that the launch provides customers with key advantages, enhancing payment security and convenience. Additionally, both options incorporate advanced security measures such as tokenization, encryption, and fraud protection, ensuring a safe and reliable payment experience.
Therefore, customers benefit from flexibility by choosing either a traditional plastic card for in-person transactions or a virtual card for seamless online payments. With MasterCard’s extensive global network, Ethiopian travelers and businesses can complete transactions worldwide, catering to their needs, he added.
In May 2024, the two entities signed a five-year Memorandum of Understanding (MoU) to advance efforts toward a cashless society by expanding card banking services domestically and internationally, The Ethiopian Herald has learned.
BY MESERET BEHAILU
THE ETHIOPIAN HERALD FRIDAY 28 MARCH 2025
