Payment Instrument Issuers Allowed to Provide Remittance Services

October 9 , 2021


Payment Instrument Issuers Allowed to Provide Remittance Services

The National Bank of Ethiopia (NBE) has allowed payment instrument issuers to engage in remittance services in partnership with international remittance service providers, such as Western Union and Moneygram. Previously, the service was reserved for banks and the Ethiopian Postal Service Enterprise. Ethio telecom is among the companies that have requested to kickoff remittance services. It plans to offer it through its mobile money platform, Telebirr, which has managed to garner over 10 million users after being launched almost five months ago.


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