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Ethiopia’s first contactless prepaid travel card introduced

The card is also the first contactless card issued in Ethiopia

Mastercard Ethiopia

Ethiopia’s first contactless prepaid travel card introduced. Source: pexels.com

Mastercard and Zemen Bank have announced a partnership to introduce the first-ever Mastercard branded prepaid contactless travel card in Ethiopia.

Zemen Mastercard prepaid travel cards will allow cardholders to use cards with either of the two major currencies, namely USD and Euros, based on their travel destination.

We are delighted to see this product address our customers’ needs for overseas travel, without the need to carry cash. Zemen Bank is known for introducing banking technologies in the country and we are proud to again be the pioneer to issue the contactless prepaid travel cards in partnership with Mastercard. We envision that this will pave the way for more e-commerce payments too, as customers are also able to book their flights and hotels using their cards
Dereje Zebene, Chief Executive Officer of Zemen Bank

In addition to the two main currencies, Zemen Bank will in the future work with Mastercard to issue cards for other currencies based on popular customer destinations, to add convenience and avoid currency conversion costs.

As to the other benefits of the platinum Mastercard prepaid travel card, it offers access to all Mastercard points of sale and ATMs worldwide, as well as platinum insurance benefits, which cover card fraud protection and purchase protection. In addition, cardholders are able to load up to $10,000 or equivalent, depending on the purpose of travel.

We’ve reported that Mastercard introduced a carbon calculator tool for banks.

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