Ethiopia Introduces Its First Domestic Credit Card in Collaboration with SanuPay and OpenWay
In a significant move towards modernizing Ethiopia's payment infrastructure and expanding financial inclusion, Oromia Bank, in partnership with UAE-based fintech SanuPay and payment technology provider OpenWay, is set to issue the country's first domestic credit cards.
This initiative marks a major leap forward, introducing approximately 4 million debit and prepaid cards and around 5,000 credit cards operating on Visa and Mastercard networks. The rollout includes 10,000 new Point-of-Sale (POS) terminals and 200 Automated Teller Machines (ATMs) nationwide, significantly broadening electronic payment access.
The collaboration is powered by OpenWay's advanced Way4 payment processing platform, which offers end-to-end digital payment solutions including card issuing, acquiring, switching, and mobile wallet support. This is critical for scalable, compliant, and interoperable digital finance.
Hermann Mike, Regional Director of OpenWay, commented that the Way4 platform enables Ethiopia's first domestic credit card while establishing a foundation for a modern payments landscape. Alfred Gachaga, CEO of SanuPay, stated that they have chosen the best-in-class solution to provide top-tier payment services in Ethiopia.
The partnership also includes a co-branded loyalty card with Sheba Miles, Ethiopia's leading frequent flyer programme. This move is expected to foster consumer engagement and usage of digital payments.
OpenWay's Way4 platform is being utilized in Kenya for modernizing card processing, remittances, and cross-border payments. In Rwanda, OpenWay plans to support fintechs in issuing virtual cards, tokenization, and mobile wallet integration.
SantimPay, a licensed payment operator under the National Bank of Ethiopia, will handle secure local transaction switching. The partnership contributes to the digitization of financial ecosystems in East Africa by providing the infrastructure for interoperable digital payments that can work seamlessly across banks, ATMs, and POS systems.
This move marks Ethiopia's step towards a diversified digital financial services landscape, moving beyond its reliance on mobile money platforms like Telebirr. As a result, the country joins regional leaders in financial digitization, advancing towards a cashless economy with enhanced convenience for consumers and businesses.
SanuPay's expansion doesn't stop in Ethiopia. The company is also working in Kenya and has plans in Rwanda, demonstrating OpenWay's ongoing expansion in Africa. Overall, this partnership drives greater financial inclusion, supports formalization of the economy, and positions Ethiopia as a growing player in East Africa’s evolving digital payment landscape.
References:
[1] OpenWay. (n.d.). Way4 Platform. Retrieved from https://www.openway.com/way4
[2] SanuPay. (n.d.). Partnership with OpenWay. Retrieved from https://www.sanupay.com/partnership-with-openway
[3] Oromia Bank. (n.d.). Co-branded Loyalty Card with Sheba Miles. Retrieved from https://www.oromiabank.com/news/co-branded-loyalty-card-with-sheba-miles
[4] National Bank of Ethiopia. (n.d.). SantimPay. Retrieved from https://www.nbofethiopia.org/en/Pages/SantimPay.aspx
The first sentence: This strategic partnership between Oromia Bank, SanuPay, and OpenWay, while utilizing OpenWay's Way4 platform, aims to modernize Ethiopia's payment infrastructure and foster financial inclusion by introducing domestic credit cards and expanding electronic payment access.
The second sentence: The collaboration also encompasses a co-branded loyalty card with Sheba Miles, demonstrating an emphasis on consumer engagement and digital payment usage in Ethiopia's growing business and technology landscape.
