Berhan Bank and Mastercard Launch Innovative Prepaid Card for International Transactions

In a significant move towards enhancing digital financial inclusion, Berhan Bank, in collaboration with Mastercard, has announced the launch of a co-branded prepaid card designed to revolutionize online international transactions. This strategic collaboration aims to cater to the growing needs of international travelers and diaspora communities by providing secure and convenient means of conducting digital payments across the globe.

The card is set to transform the experience of international transactions by enabling customers to perform digital payments anytime, anywhere. This includes merchant Point of Sale (POS) terminals, Automated Teller Machines (ATMs), or online e-commerce platforms. With a top-up amount limit of USD 4,000, the card ensures that customers can enjoy their travels and manage their international financial activities without the burden of cash transactions.

Mark Elliott, Division President for Africa at Mastercard, expressed his enthusiasm about the collaboration, stating, “We are excited to join forces with Berhan Bank to introduce this innovative prepaid card. This launch marks a significant milestone in our journey towards fostering digital financial inclusion and providing customers with secure and flexible payment solutions that cater to their evolving needs.”

Shehryar Ali, SVP and Country Manager for East Africa and Indian Ocean Islands at Mastercard, added, “This co-branded prepaid card is a testament to our commitment to enhancing the digital payment ecosystem. By enabling seamless international transactions, we are not only facilitating easier access to financial services but also contributing to the economic empowerment of communities across the region.”

The card issuance process is set to commence at the end of April 2024, with Berhan Bank customers able to apply for it at the bank’s branches. This initiative not only positions Berhan Bank as a leader in digital banking innovation, but also signifies a leap towards fulfilling the digital payment needs of customers in an increasingly globalized world.

Ato Ermias Tefera, President and CEO of Berhan Bank highlighted the strategic importance of this initiative, “At Berhan Bank, we are constantly seeking ways to broaden our service offerings and deliver value to our customers. This collaboration with Mastercard allows us to significantly enhance our digital banking services, providing our customers with a convenient and secure option for international transactions. It’s a step forward in our commitment to driving financial inclusion and supporting the country’s digitalization journey.”

This collaborative effort between Berhan Bank and Mastercard underscores the shared vision of leveraging technology to provide financial solutions that are accessible, secure, and tailored to meet the diverse needs of customers. It is a significant step forward in the journey towards achieving widespread financial inclusion and enhancing the customer experience in the digital age.

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