images

Coop Bank of Oromia and Visa Form Partnership to Enhance Digital Payment Landscape in Ethiopia

Coopbank Bank of Oromia, a provider of digital financial solutions, has entered into a strategic partnership with Visa, a global digital payment solutions, with the aim of transforming the digital payment landscape in Ethiopia. This collaboration is said will introduce Visa-branded cards for multiple products, offering tailored solutions to meet the diverse needs of Coopbank’s customer base. Additionally, the partnership will lend support to the Ethiopian government’s National ID Project, a pioneering initiative that seeks to integrate digital identification systems with payments.

Through this integration, the automatic creation of bank accounts will be streamlined when individuals receive their digital IDs, thereby greatly simplifying the banking process for Ethiopian citizens.

 

Yared Endale, Visa Ethiopia Country Manager, expressed his enthusiasm about the partnership, stating, “As Visa, we are thrilled to collaborate with the Cooperative Bank of Oromia. This partnership will leverage Visa’s world-class digital payment technology to offer secure and convenient payment solutions to CBO’s customers. Furthermore, our collaboration with the National ID Project underscores Visa’s commitment to fostering digital inclusion and providing secure digital payment solutions across the globe.”

 

Deribie Asfaw, CEO of the Cooperative Bank of Oromia, acknowledged the significance of the partnership with Visa, describing it as a milestone achievement. He emphasized that this collaboration empowers the bank to provide customers with a seamless and secure digital payment experience. Asfaw further expressed excitement about supporting the National ID Project, recognizing its potential to significantly enhance financial inclusion in Ethiopia.

 

It is said that the introduction of Visa-branded cards and the integration with the National ID Project will not only enhance the convenience and security of digital transactions but will also contribute to the country’s overall economic growth.

Author

Leave a Reply

Your email address will not be published. Required fields are marked *



Ethiopian Business Review | EBR is a first-class and high-quality monthly business magazine offering enlightenment to readers and a platform for partners.



2Q69+2MM, Jomo Kenyatta St, Addis Ababa

Tsehay Messay Building

Contact Us

+251 961 41 41 41

Author