The card is also the first contactless card issued in Ethiopia
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.
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.