Ethiopia’s Berhan Bank has partnered with Mastercard to launch a co-branded pre-paid card designed to revolutionize online international transactions. The partnership aims to cater to the growing needs of international travelers and diaspora communities by providing secure and convenient means of conducting digital payments across the globe.

The pre-paid card is set to transform the experience of international transactions by enabling customers to perform digital payments conveniently. This includes merchant POS terminals, ATMs and e-commerce platforms. With a top-up amount limit of ETB 229,773 (USD 4,000), the card ensures that customers can enjoy their travels and manage their international financial activities without the burden of cash transactions.

The card issuance process commenced at the end of April 2024, with Berhan Bank customers able to apply for it at the bank’s branches. This initiative not only positions Berhan Bank as a leader in digital banking innovation, but also signifies a leap towards fulfilling the digital payment needs of customers in an increasingly globalized world.

Speaking at the launch event, Mark Elliott, Division President for Africa at Mastercard stated, “We are excited to join forces with Berhan Bank to introduce this innovative prepaid card. This launch marks a significant milestone in our journey towards fostering digital financial inclusion and providing customers with secure and flexible payment solutions that cater to their evolving needs.”

Ato Ermias Tefera, President and CEO of Berhan Bank highlighted the importance of the partnership noting, “At Berhan Bank, we are constantly seeking ways to broaden our service offerings and deliver value to our customers. This collaboration with Mastercard allows us to significantly enhance our digital banking services, providing our customers with a convenient and secure option for international transactions. It’s a step forward in our commitment to driving financial inclusion and supporting the country’s digitalization journey.”

This collaborative effort between Berhan Bank and Mastercard highlights the shared vision of leveraging technology to provide financial solutions that are accessible, secure, and tailored to meet the diverse needs of customers. It is a significant step forward in the journey towards achieving widespread financial inclusion and enhancing the customer experience in the digital age.