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Ethiopia: Bank of Abyssinia partners Visa to launch e-commerce acquiring business

The new partnership will see tourists, customers, and visitors across Ethiopia accept secure online payment services.

Ola Olaoluwa
Ola Olaoluwa

Bank of Abyssinia (BoA) is now the first Ethiopian bank to implement Visa CyberSource payment gateways to power e-commerce acquiring businesses. The event took place in Addis Ababa where Visa and BoA announced a strategic partnership targeting e-commerce acquiring from their visa CyberSource payment gateway.

Through the Visa CyberSource payment gateway, businesses can seamlessly accept online payments. This should significantly boost the e-commerce acquiring businesses across Ethiopia, creating new opportunities in the ride-hailing, hospitality, manufacturing sector, and others.

Image Credit: Stock Image

The new partnership will see tourists, customers, and visitors across Ethiopia accept secure online payment services. People in the diaspora can shop for their family and friends residing in Ethiopia. All of this can now take place in a secure environment.

“We are excited to be the first bank to implement Visa CyberSource payment gateway in Ethiopia and start the e-commerce acquiring business,” said Sosina Mengesha, Chief Digital Banking Officer at BOA in a series of statements.

Abebe Girmay Visa Country Manager Ethiopia said;

“We are very proud to partner with Bank of Abyssinia to ensure that the market enjoys a range of domestic and international benefits that will transform their e-commerce experience.”
Financial inclusion

Ola Olaoluwa

Writer | Economist | Actor | Fashion Entrepreneur