Prepaid Hibir Mastercard Makes its Debut in Ethiopia

Hibret Bank and Mastercard have partnered to introduce Prepaid Hibir Mastercard services in Ethiopia. This collaboration represents a significant milestone in Ethiopia’s journey toward financial digitization. It’s said that the Prepaid Hibir Mastercard offers customers secure and convenient international banking experiences by providing access to foreign currency for overseas travel and international transactions wherever Mastercard is accepted.

This card features a dual-interface that supports both contact and contactless transactions, making it a versatile financial tool for ATM withdrawals and point-of-sale purchases. Customers can also reload funds at any Hibret Bank branch, which is aimed to ensure a secure and user-friendly solution for individuals engaged in foreign trade, travel, and cross-border transactions.

Hibret Bank’s CEO, Ato Melaku Kebede, emphasized the institution’s commitment to innovation and collaboration. He stated, “Launching the Prepaid Hibir Mastercard is a testament to this, marking a significant step towards our mission of digital financial inclusion.” Melaku highlighted the bank’s investments in technology and partnerships, which have not only fostered local innovation but also improved service security and customer experience.

Mastercard’s Senior Vice President and Country Manager for East Africa and Indian Ocean Islands, Shehryar Ali, underscored the importance of the alliance with Hibret Bank, stating, “This service is more than just a payment solution; it is a bridge for Ethiopians to access the global market with ease and security.” The collaboration aims to foster financial inclusion and digitization not only in Ethiopia but across Africa.

The launch of the Prepaid Hibir Mastercard is supported by Premier Switch Solutions (PSS), Ethiopia’s trusted third-party processor for electronic transactions between banks.

The joint effort between Hibret Bank and Mastercard contributes to Ethiopia’s national economy by promoting financial inclusion, which currently stands at 46% and aims to reach 70% by 2025.

This collaboration follows Hibret Bank and Mastercard’s successful introduction of Hibir e-commerce, an innovative digital payment platform that allows local businesses and retailers to accept international card payments for online purchases.

Customers interested in the Prepaid Hibir Mastercard services can visit any Hibret Bank branch or contact the bank’s customer service center for more information and application details.