Nib International Bank and Mastercard have introduced the Prepaid Mastercard in Ethiopia, commemorating NIB’s 25th anniversary with a versatile payment solution for local and international transactions.
The launch aligns with Ethiopia’s growing digital economy, projected to contribute ETB 1.3 trillion to GDP by 2028. The card offers customers a reloadable option for e-commerce, travel, and daily expenses, leveraging 3D secure technology and powered by Premier Switch Solutions as the transaction processor.
This collaboration unites key leaders, including NIB International Bank CEO Henok Kebede, Mastercard’s SVP Shehryar Ali, and PSS Group CEO Ato Amha Tadesse, to expand financial inclusion in Ethiopia.
The Prepaid Mastercard provides Ethiopian consumers access to millions of global merchants, while also offering secure fund management. This positions NIB Bank to meet evolving consumer needs in Ethiopia’s expanding digital economy.
“At Mastercard, our innovations are driven by a commitment to transforming access to secure financial services and accelerating financial inclusion across Africa. The launch of the Prepaid Mastercard exemplifies the transformative impact of collaboration in advancing digital payments. By collaborating with NIB International Bank, we are supporting Ethiopian consumers to embrace the possibilities of digital transactions, enabling seamless and secure global connectivity while driving the broader financial inclusion agenda,” said Shehryar Ali, SVP and Country Manager for East Africa and Indian Ocean Islands at Mastercard.
“Through our collaboration with Mastercard, our new prepaid solution provides customers with a convenient, secure payment tool that addresses both domestic and international needs, underscoring our commitment to customer-focused innovation and accessibility. This launch marks a significant milestone in our mission to enhance financial inclusion and supporting consumers with versatile solutions that adapt to their lifestyles,” said Henok Kebede, CEO of NIB International Bank.
Read: MASTERCARD AND EQUITY BANK TO REVOLUTIONIZE CROSS BORDER MONEY TRANSFERS IN KENYA
“We are pleased to collaborate with Mastercard, to onboard our founding member, NIB bank, for the issuance of NIB’s Prepaid Mastercard. At PSS, we remain committed to advancing the payment sector by delivering innovative solutions that enhance efficiency, security, and accessibility for our member banks. This collaboration with Mastercard and NIB International Bank underscores our commitment to providing financial services, empowering Ethiopian consumers and fostering economic growth,” said Ato Amha Tadesse, Group CEO of PSS.
The Prepaid Mastercard is reloadable and designed for flexibility, enabling users to fund everyday expenses, online purchases, and travel transactions. The Prepaid Mastercard, with robust security features, offers a safer alternative to cash and ensures global accessibility, making it a vital tool for consumers navigating Ethiopia’s increasingly digital economy.