The Commercial Bank of Ethiopia (CBE) has officially launched a MasterCard payment system in collaboration with global payments giant MasterCard.
The new system is set to revolutionize digital payment services across the country by providing CBE customers with access to secure, convenient, and globally recognized electronic payment solutions. This development also expands international transaction capabilities, a feature that has traditionally been limited within Ethiopia’s banking sector.
Speaking at the launch event, CBE President Abe Sano emphasized that the partnership marks a critical milestone in modernizing the bank’s service offerings and aligning them with global standards. He noted that integrating MasterCard’s technology will enable seamless transactions for both domestic and international users, further supporting Ethiopia’s transition toward a cashless economy.
Mark Elliot, President of MasterCard Africa, highlighted the significance of the collaboration, stating that it reflects MasterCard’s ongoing commitment to enhancing financial inclusion across Africa. He added that the company is proud to support Ethiopia’s growing need for a secure and modern payment infrastructure.
While CBE and MasterCard have previously collaborated on financial sector initiatives, this latest launch deepens their relationship and expands CBE’s capabilities in digital banking. The partnership is expected to boost economic activity by increasing access to international financial services and promoting digital payments in Ethiopia.
The launch event, presided over by Abe Sano and Mark Elliot, symbolized the strength of their partnership and their shared vision for a digitally empowered financial ecosystem in Ethiopia.
Source: Addis Insight
