Ethiopia Introduces Domestic Credit Card, Powered by SanuPay and OpenWay Technology
In a significant move towards modernising Ethiopia's financial infrastructure, UAE-based fintech SanuPay has partnered with OpenWay to launch the country's first domestic credit card. This partnership is poised to introduce a formalised, scalable, and digitally enabled payments landscape in a nation traditionally dominated by cash and mobile money solutions.
At the heart of this transformation is OpenWay's Way4 platform, a versatile solution that enables end-to-end digital payment services, including card issuance, transaction acquiring, system switching, and mobile wallet management. The rollout plans to issue 4 million debit and prepaid cards, 5,000 credit cards under Visa and Mastercard, and deploy 10,000 POS terminals and 200 ATMs nationwide, starting with Oromia Bank.
The impact of this initiative extends beyond Ethiopia's borders, accelerating the digitisation of financial ecosystems across the wider East African market. Alfred Gachaga, CEO of SanuPay, emphasises that they have chosen the best-in-class solution to deliver top-tier payment services in Ethiopia.
Oromia Bank will be the first to issue the domestic credit cards, with plans for a co-branded loyalty card with Sheba Miles. The partnership also aims to foster financial inclusion and encourage a cashless economy, with the integration of Ethiopia’s national payment switch ensuring interoperability across banks and POS systems.
Hermann Mike, Regional Director of OpenWay for Sub-Saharan Africa, affirms that Way4 is instrumental in launching Ethiopia's first domestic credit card and establishing the groundwork for a modern, inclusive, and interoperable payments landscape. The no-code configurability of Way4, proven successful with Equity Bank and others, is gaining ground in Africa.
SanuPay is not limiting its ambitions to Ethiopia. The fintech is working with banks and fintechs in Kenya to modernise card processing, remittances, and cross-border payments. In Rwanda, SanuPay plans to support fintechs in issuing virtual cards, tokenisation, and mobile wallet integration.
The involvement of licensed operators like SantimPay ensures compliant and efficient transaction processing, further strengthening the financial digitisation efforts in Ethiopia. This initiative is expected to promote economic connectivity and foster innovative fintech growth in East Africa.
In this partnership, SanuPay and OpenWay are using OpenWay's technology to transform Ethiopia's financial infrastructure, aiming to introduce a modern and scalable business solution that includes digital payment services and credit card issuance. The impact of this initiative might expand beyond Ethiopia's borders, influencing the digitisation of financial ecosystems across East Africa.
