Visa teams with Bank of Abyssinia to drive Africa digital finance

Global payments company Visa Inc. is deepening its presence in East Africa with a renewed agreement with Bank of Abyssinia, a move aimed at widening access to digital payments in Ethiopia. 

The deal comes at a time when Ethiopia’s financial system is changing quickly.

More people are using smartphones, regulators are opening the sector, and businesses are looking for faster, safer ways to move money without cash. 

Digital payments are becoming central to everyday commerce, from small retailers to large companies.

Across Africa, governments and financial institutions are pushing to bring more people into the formal banking system and make cross-border trade easier. 

For Visa, the agreement reflects a steady push into African markets where banking access remains limited but demand for digital services is rising.

For Bank of Abyssinia, the partnership provides the tools and global reach needed to keep pace with changing customer needs.

Expanding access to digital payments 

Both companies said the partnership will focus on widening the use of secure electronic payments and improving how customers interact with banking services. 

Bank of Abyssinia will continue issuing Visa cards while investing in new digital products.

The lender also plans to strengthen its mobile and online banking platforms as more customers shift to digital channels. 

The agreement is expected to support broader payment acceptance among merchants, helping businesses—from small shops to larger retailers—process transactions more efficiently.

Strengthening cross-border transactions 

Using Visa’s global network, the two firms aim to make cross-border payments simpler and more reliable.

This is increasingly important as Ethiopian businesses look beyond domestic markets and consumers turn to international services. 

“Ethiopia is an important and fast-growing market, and we are committed to working with local institutions to support digital payments,” said Yared Endale, Visa’s cluster head for Eastern Africa. 

Sosina Mengesha, chief digital banking officer at Bank of Abyssinia, said the agreement will help the bank deliver more secure and dependable services to its customers. 

The partnership supports Ethiopia’s broader efforts to modernize its payment systems, reduce cash use and support digital commerce, as competition builds across Africa’s financial technology sector.