Ethiopia: Dashen Bank Launches E-Commerce Platform in Cooperation With Visa

Addis Ababa — Dashen Bank announced on April 13, 2021 that it will launch Amole E-Commerce Gateway using Visa Cyber Source infrastructure to acquire Visa, Mastercard and American Express. The Amole E-Commerce gateway will be the first E-Commerce gateway in Ethiopia to accept all three major international cards with the promise to expand by acquiring and developing additional digital payment methods. The E-commerce was launched in cooperation with Moneta Technologies, a fintech company fully-owned by Kenya's Fettan Holdings Limited which operates Dashen Bank's digital wallet system, Amole and Visa.

Speaking on the benefits of such cooperation Asfaw Alemu, CEO of Dashen Bank said, "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 large 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."

It is important to note that digital payment options on either websites or mobile apps are not currently available in Ethiopia. As a result, hotels, tour and travel agencies and retail businesses can not sell their products or services online to international card holders. Dashen bank through its digital wallet system 'Amole' will be the first bank to make it possible for local businesses, especially hotels to accept online payment and secure reservation to customers through this e-commerce gateway .

Yemriu Chanyalew, CEO of Moneta Technologies 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 E-Commerce marketplace opportunities."

Visa's country manager for Ethiopia Abebe Girmay on his part said, "With Visa cybersource payment infrastructure, businesses will accept online payments seamlessly. Consumers, tourists and visitors coming to Ethiopia will have access to secure payment service. Moreover, the diaspora community can shop for their families and friends living in Ethiopia all via an online secure and risk free environment." Dispatch

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