[Ethiopia] Bank of Abyssinia and visa launch e commerce acquiring business using cybersource payment technology
Bank of Abyssinia, BoA, has become the First Bank in Ethiopia to implement Visa CyberSource payment gateway to drive e-commerce acquiring business.
In an event held in Addis Ababa Bank of Abyssinia (BoA) and Visa announced a strategic partnership to drive e-commerce acquiring through visa CyberSource payment gateway making BoA the first bank in Ethiopia to implement the platform.
The platform enables businesses accept online payments using credit cards which leapfrogs the current and lagging e-commerce practice in Ethiopia to a new efficient and secured e-commerce reality.
With the Visa CyberSource payment gateway, businesses are able to accept online payments seamlessly, in effect bringing a new dawn to the e-commerce acquiring business in Ethiopia with a huge potential in the hospitality, ride-hailing services, and manufacturing, among others.
From this historic strategic partnership, consumers, tourists and visitors coming to Ethiopia will have access to a secured online payment service. Furthermore, the diaspora community can shop for their families and friends living in Ethiopia. All this will be carried out on a secured and risk-free online environment.