In a major step towards modernising its digital payment ecosystem, Ethiopia has introduced its first domestically issued credit card, a first for the country’s financial landscape.
Powered by SanuPay, a UAE-based payment processor, and OpenWay’s Way4 platform, this initiative diversifies Ethiopia’s payment options beyond the widely adopted mobile money platform Telebirr, which already serves over 51 million users.
Here’s everything you need to know about this transformative development and its potential to reshape Ethiopia’s economy.
A Leap Toward Financial Inclusion
Ethiopia’s financial system has historically been cash-based, with limited access to modern payment tools like credit cards.
While mobile money solutions like Telebirr have driven significant progress since their 2021 launch, processing billions in transactions, credit cards have remained scarce.
The introduction of this domestic credit card, in partnership with Oromia Bank, aims to bridge this gap, offering a secure and inclusive payment alternative, particularly for Ethiopia’s unbanked and underbanked populations.
The initiative includes issuing 4 million debit and prepaid cards and 5,000 Visa and Mastercard credit cards, supported by a robust infrastructure of 10,000 point-of-sale (POS) terminals and 200 ATMs nationwide.
These cards are fully interoperable through Ethiopia’s national payment switch, ensuring seamless transactions across banks, ATMs, and POS systems.
This interoperability is a game-changer, enabling Ethiopian consumers to engage in digital payments with ease and confidence.
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Powered by Cutting-Edge Technology
The backbone of this initiative is OpenWay’s Way4 platform, a globally recognised solution used by major banks for issuing, acquiring, and managing digital payments.
Way4 provides a resilient and scalable infrastructure, ensuring compliance with international standards while supporting Ethiopia’s unique financial needs.
According to Alfred Gachaga, CEO of SanuPay, “We’ve chosen a best-in-class solution to deliver resilient, scalable payment services. This supports Africa’s digital financial transformation.”
SanuPay, licensed in the UAE, brings its expertise in payment processing to the partnership, ensuring the rollout is both efficient and impactful.
By leveraging OpenWay’s technology, SanuPay is building a foundation for Ethiopia’s growing fintech ecosystem, with the potential to scale across the region.
Why This Matters for Ethiopia
This launch positions Ethiopia to catch up with regional leaders like Kenya, where mobile and card payments are more mature.
By offering locally issued credit cards, Ethiopia is not only diversifying its financial tools but also supporting financial inclusion.
The cards provide access to credit and digital payments, reducing reliance on cash and empowering individuals and businesses to participate in the digital economy.
The initiative aligns with Ethiopia’s broader push for a diversified and inclusive financial ecosystem, supported by the central bank and growing fintech partnerships.
As the country modernises its infrastructure, this credit card launch could pave the way for greater economic growth, improved access to services, and enhanced financial empowerment for millions.
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The Bigger Picture: Africa’s Digital Payment Revolution
Ethiopia’s move reflects a broader trend across East Africa, where countries are embracing digital payments to drive economic transformation.
Unlike Kenya’s M-Pesa, which dominates mobile money, Ethiopia’s credit card initiative introduces a traditional yet innovative payment tool tailored to local needs.
By integrating with global networks like Visa and Mastercard, Ethiopia is positioning itself as a key player in Africa’s fintech evolution.
This development also highlights the importance of public-private partnerships in advancing financial inclusion.
With SanuPay, OpenWay, and Oromia Bank working together, Ethiopia is building a sustainable model for digital finance that could inspire other African nations.
What’s Next for Ethiopia’s Fintech Future?
As Ethiopia’s payment ecosystem evolves, the introduction of domestic credit cards is just the beginning.
The initiative’s focus on interoperability, scalability, and inclusivity sets a strong foundation for future innovations, such as expanded digital wallets, enhanced credit access, and broader financial services for underserved communities.
For now, this launch is a bold statement of Ethiopia’s ambition to modernise its economy and empower its people through technology.
As more Ethiopians adopt these digital payment tools, the country is positioned to become a leader in East Africa’s fintech disruption.
Stay tuned for more updates on Ethiopia’s journey toward a cashless, inclusive economy!
Ronnie Paul is a seasoned writer and analyst with a prolific portfolio of over 1,000 published articles, specialising in fintech, cryptocurrency, and digital finance at Africa Digest News.
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