One of Ethiopia's leading private financial institutions Awash Bank has joined forces with the US-based technology giant Mastercard to unveil a virtual pre-paid international card. Dubbed "Awash Pre-paid cards," this digital offering responds to the growing demand for flexible payment solutions. The virtual card, introduced at the Bank's headquarters, comes with the versatility to facilitate payments globally. The plastic card supports transactions through contactless ATMs, point-of-sale (POS) systems and online shopping platforms. Executives express optimism that the partnership will not only meet the rising demand for flexible payments but also ensure secure, round-the-clock payment services for customers. Awash Bank plans to extend access to Mastercard's Payment Gateway Services to merchants, enabling online shopping from e-commerce platforms. Shehryar Ali, country senior vice president & manager at Mastercard, emphasised that technological advancements, especially in secure transactions, will play a pivotal role in accelerating the positive trajectory towards financial inclusion. Incorporated in 1994 with 486 founding shareholders, Awash Bank has consistently demonstrated its prominence in the sector. It has recorded a 30.9pc increase in net profits, reaching 6.99 billion Br, during the ended year while its paid-up capital experienced a remarkable surge of 42.4pc, reaching 14.65 billion Br, nearly tripling the regulatory minimum set by the National Bank of Ethiopia (NBE) for 2026.
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