Business
Ethiopia’s commerce goes contactless with new Visa and ETTA infrastructure agreement
Capital Ethiopia · 3 hours ago · Read the Full Story on Capital Ethiopia
AI SUMMARY
ETTA Solutions and Visa have partnered to deploy 148,000 contactless payment devices across Ethiopia in the country's largest merchant digitization program.
- ETTA Solutions PLC and Visa signed a strategic partnership framework agreement to roll out 148,000 contactless acceptance devices across Ethiopia.
- The rollout targets neighborhood shops, market traders, restaurants, pharmacies, and transport operators alongside major retailers.
- The devices connect to ZooryaPay, which operates under a National Bank of Ethiopia Payment System Operator licence and processed over ETB 120 billion in transactions over the past year.
- The hardware is certified by the Ethiopian tax authority as a cash register machine and for the national e-receipt system, combining fiscal receipting and card acceptance into one device.
- Visa and ETTA will jointly finance the hardware, fund marketing campaigns, and co-manage the rollout, with ETTA leading ground-level execution and support.
- An exclusive partnership with Optasia provides merchants with credit-readiness profiles based on transaction history, allowing local partner banks to extend working-capital loans without traditional collateral.
- The open-rail network enables consumers, tourists, and the diaspora to use local and international Visa cards at everyday merchants while interoperating with Ethiopia's national switch.
Related
New Regulation Mandates Registration of Corporate Beneficial Owners Within Six Months
The Reporter (Amharic) · 4 hours ago
Zemen Bank Reports 15% Rise in After-Tax Profit to ETB 6.75 Billion
StockMarket.et · yesterday
Lawsuit Accuses Starbucks of Mislabeling 'Sugar-Free' Protein Drinks
AP News · 2 days ago
Alibaba market remains out of reach for Ethiopian exporters
Capital Ethiopia · 3 days ago