Zemen Bank has obtained certification from the global payment card industry data security compliance. The system enables the Bank to process card payment systems. The cards includes debit, credit and prepaid cards.
"This enables us to comply with Visa and Mastercard," said Amaha Tadesse, Zemen's chief of IT.
The system, which was developed by Control Case Ltd., ensures that a bank has put in place proper controls to safeguard customers' data and ensures that transactions are done with high-security standards, according to Suresh Dadlani, the president of Control Case.
The project took two years to be launched.
Companies that comply with the security standards are required by major card associations including VISA, Mastercard and American Express to comply with this standard. Zemen Bank became the first bank in Ethiopia to receive the latest PCI compliance.
The consultant is working on the same service for Bank of Abyssinia and Dashen Bank. Previously, the consultant awarded the certification for PSS, an ATM switch company.