NIB International Bank And Mastercard Launch Prepaid Mastercard In Ethiopia, Expanding Access To Global Payment Solutions
Celebrating its 25th anniversary, NIB International Bank (NIB) has partnered with Mastercard to launch Prepaid Mastercard, a versatile and secure payment solution that provides Ethiopian consumers with seamless local and international transaction capabilities. This milestone highlights the shared commitment of National Bank and Mastercard to drive financial inclusion and drive innovation in Ethiopia.
As Ethiopia’s digital economy grows, forecasts suggest its contribution could exceed By 2028, GDP will reach 1.3 trillion ETBthe need for flexible and secure payment methods has become critical. The physical prepaid Mastercard addresses this need by offering reloadable payment options that support e-commerce, travel and everyday spending. Customers can now enjoy the convenience and enhanced security of managing their money using 3D Secure-enabled cards.
The prepaid Mastercard fills a critical gap in the market by enabling Ethiopian consumers to conduct seamless online transactions. With growing trends in online shopping and travel, this new product meets changing consumer needs while driving financial transparency and economic growth.
“At Mastercard, our innovation stems from our commitment to transforming access to secure financial services and accelerating financial inclusion across Africa. The launch of the prepaid Mastercard exemplifies the transformative impact of collaboration in advancing digital payments. By partnering with NIB International Working with banks, we are supporting Ethiopian consumers to embrace the possibilities of digital transactions, enabling seamless and secure global connectivity while driving the broader financial inclusion agenda.” Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, Mastercard.
“In partnership with Mastercard, our new prepaid solution provides customers with a convenient and secure payment tool that caters to domestic and international needs, underscoring our commitment to customer-centric innovation and accessibility Commitment. This launch marks an important milestone in our mission to enhance financial inclusion and provide consumers with versatile solutions that fit their lifestyles.” Henok Kebede, CEO, NIB International Bank.
The launch of the prepaid Mastercard is supported by Premier Switch Solutions, Ethiopia’s trusted third-party processor that powers electronic transactions between banks, ensuring a safe and efficient experience.
“We are delighted to partner with Mastercard to have our founding member NIB Bank issue the NIB Prepaid Mastercard. At PSS, we remain committed to driving the growth of the payments industry by delivering innovative solutions that increase efficiency, security and safety for our member banks and accessibility. Our partnership with Mastercard and NIB International Bank underscores our commitment to providing financial services, empowering Ethiopian consumers, and promoting economic growth.” Ato Amha Tadesse, PSS Group CEO.
The prepaid Mastercard offers a number of key benefits, including its reloadability and flexible design, allowing customers to easily top up for daily expenses, online shopping and travel-related transactions. It provides a safe and convenient alternative to carrying cash and provides powerful security features for online and offline payments. The card works globally and is accepted at millions of locations around the world, allowing customers to seamlessly engage in international commerce.
By integrating this solution into its digital banking portfolio, NIB reiterates its commitment to providing innovative financial products to meet the diverse needs of Ethiopian consumers. With this launch, Mastercard aims to foster its vision of financial inclusion and empowered communities through innovative digital solutions, contributing to its global mission of bringing one billion people into the digital economy by 2025.
