CBE, MasterCard launch int’l plastic and virtual payment cards

On Mar 27, 2025 483

Addis Ababa, March 27, 2025 (FMC) — The Commercial Bank of Ethiopia (CBE) and MasterCard have launched plastic and virtual payment cards, marking a significant step towards modernizing financial services and expanding digital inclusion in Ethiopia.

The new services aim to provide secure and convenient access to global digital payments for CBE customers.

During the launching of the cards, Commercial Bank of Ethiopia President Abe Sano said the agreement with MasterCard will give a new era of banking and a new service to customers, where the bank will be able to issue the cards on top of the commonly known plastic cards which will physically deliver as well.

He also noted the enhanced security features and the convenience of online application and instant virtual card issuance via the mobile banking app.

“This is really a great enhancement to our services, particularly to the very dynamic demands of our customers today.”

MasterCard Africa Division President, Mark Elliott said the companies are not just introducing a new card, but unlocking possibilities, possibilities for many Ethiopians.

“This collaboration is not just about payments, it’s really about economic empowerment. Ethiopia is making great strides towards a digital economy,” he noted.

CBE customers can now apply for plastic cards through branch channels or online, while virtual cards are issued instantly via the mobile banking app. Both card options are accepted at millions of merchants worldwide and feature advanced security measures.

This initiative aligns with the Digital Ethiopia 2025 Initiative and CBE’s digitalization strategy, aiming to bridge the gap in access to financial services and foster greater economic participation, as per ENA.

The collaboration builds on a longstanding relationship between CBE and MasterCard, including a five-year Memorandum of Understanding signed in May 2024 to advance card banking services and integrate MasterCard Payment Gateway Services into the government’s e-services portal.