Moneta Technologies and Dashen Bank launch eCommerce Gateway for International Payments in Ethiopia

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Dashen Bank becomes the first Ethiopian bank to acquire ALL three major international cards (Visa, Mastercard and American Express) to drive eCommerce to its 8000 merchants.

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Yemriu Chanyalew, CEO of Moneta Technologies s(“Moneta”) said, “We are delighted to partner with Dashen and Visa CyberSource to launch this product that supports Dashen’s customers and over 8000 Amole merchants to accept digital payments from anywhere in the world. This partnership and technology pl

At today’s event, Dashen Bank (“Dashen”) today announced the immediate availability and launch of Amole eCommerce Gateway using Visa CyberSource infrastructure to acquire Visa, Mastercard and American Express. The Amole eCommerce gateway is the first eCommerce gateway in Ethiopia to accept all three major international cards. Dashen will expand its acquiring relationship with additional digital payment methods in the near future. The Amole eCommerce Gateway has been available to select merchants since March of this year.

Yemriu Chanyalew, CEO of Moneta Technologies (“Moneta”) said, “We are delighted to partner with Dashen and Visa CyberSource to launch this product that supports Dashen’s customers and over 8000 Amole merchants to accept digital payments from anywhere in the world. This partnership and technology play a pivotal role in delivering more value to merchants by linking them to more global eCommerce marketplace opportunities. In the near future, we will be offering the Amole eCommerce Gateway to other Ethiopian Banks that currently have international card acquiring licenses from international card associations.”

To date, Ethiopian businesses do not have the ability to accept digital payments on their digital channels like websites and mobile apps. As a result, hotels, tour and travel agencies and retail businesses cannot sell their product and services online to international customers. Local hotels chains were at a disadvantage because they cannot accept international cards online to guarantee a reservation which means the customer cannot get a confirmed reservation and peace of mind, when traveling to Ethiopia. Now, as of today, local hotels in Ethiopia can accept online payment and secure reservation to customers, thanks to Amole.

“With the Visa CyberSource payments infrastructure, businesses will accept online payments seamlessly. Consumers, tourists and visitors coming to Ethiopia will have access to a secured payment service. Moreover, the diaspora community can shop for their families and friends living in Ethiopia. All this will be carried out on a secured and risk-free online environment, said Abebe Girmay, Visa’s Country Manager for Ethiopia.

“We are very excited to work with Moneta and Visa CyberSource to bring this product to the Ethiopian market, leveraging our combined assets to broaden our offering to a larger number of Dashen merchants. We believe this product will help the National Bank of Ethiopia’s goal to increase the formal forex inflows and reduce the forex cash being brought into the country which potentially ends up in the informal market.” said Asfaw Alemu, CEO of Dashen.

About Moneta Technologies

Moneta Technologies S.C. is a Fintech company, fully-owned subsidiary of Fettan Holdings, Limited of Kenya, the company is headquartered in Addis Ababa, Ethiopia. Moneta Payment solution is a secure and efficient payment platform that links consumers, banks, merchants, mobile content aggregators and service providers into an electronic payment ecosystem.

Moneta aims to deliver a collusive financial service to the unbanked and under-banked people of Ethiopia; enabling them access, aggregated financial services from their banks, service providers, agents and merchants at a single point of service. Our mission is to deliver an effective, efficient, reliable, accessible and secure payment system that is relevant to Ethiopia’s environment and fully supports the customer and the country’s needs.

For additional information:

You may also contact Mr. Samson Getu- Vice President – Sales and Marketing
Mobile: +251 929903278
Email: SamsonG@MyAmole.com

About Visa

Visa (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network – enabling individuals, businesses and economies to strive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of digital commerce on any device for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit http://www.Visa.com

About Dashen Bank

Dashen Bank S.C. established on September 20, 1995 is the largest private bank and leading digital bank in Ethiopia, pioneered electronic banking in Ethiopia and is the only bank accepting the four payment card schemes (Amex, VISA, MasterCard, and UnionPay). For more information on Dashen, visit their website http://www.DashenbankSC.com.

For additional information:

You may also contact Mr. Kasaye Eshetu Director for Alternate Channel Department at Dashen Bank
Mobile: +251 937776535
Email: Kasaye.e@DashenBankSC.com

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Yemiru Chanyalew

Kasaye Eshetu