Ethiopia: Awash Bank to accept MasterCard payment cards
Awash International Bank (AIB) has become the second private bank in Ethiopia, after Dashen Bank, to distribute MasterCard branded payment cards to its clients.Awash International Bank (AIB) has become the second private bank in Ethiopia, after Dashen Bank, to distribute MasterCard branded payment cards to its clients.
The Bank has been certified as a principal MasterCard member on 18 March 2014.
The card will soon be accepted in all Awash ATMs and Point of Sales terminals. "The launching of the service is part of Awash's endeavour to meet customers' demands by investing more in innovative technologies," Tsehay Shiferaw, president of the Bank, said in a press release.
Mastercard is also working with national payment authorities in the East African Community (EAC) to encourage the adoption of a cashless economy, according to the company’s Vice president and Area Head of East Africa, James Wainaina.
Last month, he told the Independent East African News Agency (EANA) that electronic payments would eliminate inefficiencies associated with cash including the high handling costs and make the region much more efficient and globally competitive.
He added that advances in technology are empowering consumers in East Africa and that a contactless payment technology will be rolled out in Kenya, Uganda, Tanzania, Rwanda and South Sudan through partnerships with banks.