Ethiopia-based Abay Bank has launched an international prepaid Visa card in partnership with Visa Inc.
The card has been designed for business owners engaged in international trade, professionals using global digital platforms, and travellers who require international payment tools, according to Yehuala Gessesse, chief executive officer of Abay Bank. The launch positions the product within a broader category of prepaid international cards that allow users to transact abroad without a linked current account, a format that has gained relevance as demand for cross-border payment access grows among Ethiopian consumers and businesses.
The introduction follows a period in which Ethiopia's banking sector has increased investment in digital financial services, with banks expanding mobile banking, internet banking, card services, and electronic payment platforms to meet rising demand for digital transactions.
Regulatory context
The launch also follows foreign exchange reforms introduced by the National Bank of Ethiopia, which have included measures to improve access to foreign currency services and support closer integration with global markets. These reforms have created conditions in which financial institutions can introduce additional international payment products, a shift that follows Ethiopia's longstanding foreign currency shortages, which have historically constrained cross-border transaction capacity for both individuals and businesses.
Yared Endale, Visa's country manager for Ethiopia and head of the East Africa cluster, said the partnership with Abay Bank is intended to expand international payment access for Ethiopian customers. He noted that Visa's local office in Ethiopia, one of ten offices the company operates across Africa, reflects its continued presence in the country's financial ecosystem.
Existing infrastructure
Abay Bank currently operates 370 ATMs and 400 point-of-sale terminals, alongside its internet and mobile banking services. The new card adds to this existing digital payment infrastructure rather than replacing it, extending the bank's offering into international transactions specifically.
The launch takes place against a backdrop of rising cross-border e-commerce activity, increased international travel, and growing demand for global digital services among Ethiopian consumers and businesses. Moreover, fs foreign exchange access evolves under the central bank's reform programme, additional Ethiopian financial institutions may pursue similar international card partnerships to address comparable demand.
