Ethio Telecom and Visa Deepen Ties on Digital Financial Services
Ethio Telecom and Visa discussed expanding digital financial services, reviewed remittance progress, and formed a joint committee to drive innovation.
Ethio telecom CEO Frehiwot Tamru held a strategic meeting with a Visa Inc. delegation led by Mr. Michael Berner, Senior Vice President and Head of the South and Eastern Africa Regions, to explore enhanced collaboration opportunities in international digital financial services.
During the discussion, the performance of the country’s first wallet-based Virtual Visa Card and enhanced remittance services via Visa Direct and telebirr Remit, launched in August 2024, was reviewed.
Discussions covered the performance of these services to date and the growing market potential, particularly following the recent macroeconomic reforms. Customers’ feedback on the launched remittance services was also analyzed, with the goal of further enhancement based on the feedback.
The discussions also focused on leveraging the strengths of Ethio telecom’s telebirr platform in conjunction with Visa Inc.’s extensive global network. CEO Frehiwot highlighted telebirr’s impressive reach along with its robust, secure infrastructure and capabilities.
Recognizing the success of past collaborations, the Visa Inc. delegation underscored the significant untapped potential in the market. They advocated for the introduction of innovative international services, emphasizing the need to “break the boundary.”
Finally, both parties committed to forming a joint steering committee that will explore additional collaboration areas, significantly enhance innovative digital financial solutions, improve financial inclusion, and foster a digital society in Ethiopia.
