Visa and SantimPay Partner to Revolutionize Digital Payments in Ethiopia
Visa, a global leader in payments, is joining forces with SantimPay Financial Solutions, an Ethiopian fintech company, to deploy 20,000 point-of-sale (POS) terminals throughout Ethiopia. This strategic partnership represents a significant leap forward in expanding digital payment infrastructure and promoting financial inclusion in the country, where cashless transactions are still developing.
# Addressing Ethiopia’s Merchant Acceptance Challenge
The agreement, formalized at the Visa Connector Ethiopia summit, signifies Visa’s inaugural financial partnership program in East Africa. This initiative aligns perfectly with the National Bank of Ethiopia’s (NBE) ongoing efforts to broaden merchant acceptance of digital payments, encourage cashless transactions, and ultimately, deepen financial inclusion for all Ethiopians. A regional Visa executive hailed the partnership as a “watershed moment” for Ethiopia’s payments landscape and described it as a “foundational investment” in the nation’s digital infrastructure. SantimPay will oversee the mass deployment of these cost-effective and interoperable POS terminals, ensuring they reach merchants in both urban centers and rural areas, effectively bridging the gap in merchant acceptance across the nation.
This collaboration between Visa and SantimPay promises to modernize Ethiopia’s payment ecosystem, paving the way for greater financial accessibility and convenience for businesses and consumers alike. The deployment of these POS terminals will not only streamline transactions but also contribute significantly to the overall growth and development of the Ethiopian economy.
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