Ethio telecom has signed a partnership agreement with Visa to introduce the first wallet-based virtual Visa card in Ethiopia. The agreement seeks to enhance the current international money transfer remittance services through the introduction of telebirr Remit App and Visa Direct. This is expected to bring substantial improvements in the efficiency and security of money transfers.
Visa Direct service allows both individuals and institutions to send money from over 190 countries, offering improved efficiency and lower service fees than the current remittance service in Ethiopia. To receive money from overseas via Visa Direct, customers must first register for Virtual Visa service using telebirr Super App and share the 16-digit virtual Visa card number with the sender, which will be received within one hour.
telebirr Remit service is designed to enable customers abroad to securely send money to their friends and relatives’ telebirr mobile number. This is facilitated by installing the telebirr Remit App on their mobile devices. With this service, customers can receive remittances from the United States, Canada, Israel, Saudi Arabia, the United Arab Emirates, the United Kingdom, South Africa, Italy, and Sweden.
This agreement enables presents enhanced alternatives to traditional remittance through Visa Direct and telebirr Remit. It also extends the service by facilitating seamless online cross-border payments, including for e-commerce in the near future. These new services also aim to foster job creation and propel the transition towards establishing a cashless digital society, ultimately providing enhanced benefits to our valued customers.