One of Ethiopia’s fastest-growing financial institutions, Abay Bank, and a global leader in digital payments, Visa, have entered into a strategic agreement aimed at transforming payment landscape and advancing financial inclusion in Ethiopia.
During the signing ceremony, Yehuala Gessesse, Abay Bank’s CEO, said that our collaboration with Visa aligns with our vision to deliver world-class banking services and promote financial inclusion.
This strategic advancement not only elevates the customers’ contemporary banking experience but also reinforces our commitment to driving Ethiopia’s digital transformation, through the introduction of Visa prepaid products and the seamless integration of Visa transactions across our ATM and PoS terminals, he added.
Yehuala further said that by combining Abay Bank’s strong local presence with Visa’s global expertise, the two organizations aim to accelerate the shift toward digital payments in Ethiopia.
Yared Endale, Eastern Africa Cluster Head and Visa Ethiopia Country Manager, on his part, said that this partnership with Abay Bank marks an important milestone in our mission to digitize payments and expand financial access in Ethiopia.
Together, we aim to empower consumers and businesses with secure, convenient, and innovative payment solutions that drive economic growth, he added.
The agreement will see Abay Bank introduce a range of Visa prepaid products, designed to provide customers with secure, convenient, and globally accepted payment solutions. The agreement also includes initiatives to promote financial literacy and expand access to digital financial services, particularly for underserved communities.
The signed strategic agreement significantly enhances Abay Bank’s commitment to inclusive financial growth and complements the ongoing 15th Anniversary celebration at large.
