Ethiopian lender Awash Bank has entered into an agreement with Mastercard to allow customers to transact using their prepaid cards.
The cards, which are available in virtual and plastic formats, allow users and merchants to withdraw cash from ATMs, pay at POS terminals, and shop online at any merchant location.
The Awash Mastercard also allows customers to load funds onto the card at Forex bureaus, which is ideal for international payments and travel expenses.
“This innovative offering is a testament to Awash Bank’s commitment to delivering convenient and secure financial solutions to our customers,” said Yohannes Merga, Senior Chief, Marketing Officer for Awash Bank.
“Awash Mastercard empowers travelers with the freedom to manage their finances seamlessly while exploring the world,” he added.
In addition to the card, the bank will launch Mastercard’s Payment Gateway Services (MPGS), which will broaden and diversify Awash Bank’s range of services.
Mastercard’s Payment Gateway enables regional businesses with websites or mobile applications to integrate with it and accept online payments from customers worldwide.
Global users can make reservations and online orders, as well as pay for businesses that accept MPGS with their cards.
“This collaboration with Awash Bank is driving our commitment as Mastercard to enable financial inclusion across Africa,” said Shehryar Ali, Senior Vice President and Country Manager for East Africa and Indian Ocean Islands at Mastercard.
