Ethiopia has officially introduced its first-ever domestic credit card, a landmark development that underscores the country’s growing commitment to modernizing its financial infrastructure and embracing the digital payment revolution sweeping across East Africa. This milestone is the result of a strategic collaboration between SanuPay, a UAE-based and licensed payment processor, and OpenWay, a Belgian fintech company known for its advanced digital payment solutions.
This initiative represents a significant shift in Ethiopia’s financial landscape, which has historically been dominated by cash transactions and, more recently, mobile money platforms. While Telebirr, Ethiopia’s state-backed mobile money service, has achieved remarkable success since its 2021 launch—amassing over 51 million users and facilitating billions of dollars in transactions—credit card usage has remained virtually nonexistent.
The introduction of a domestic credit card adds a critical new dimension to the country’s digital finance ecosystem. It enables Ethiopian banks to issue credit cards linked directly to local currency accounts, allowing consumers to make purchases and access credit more conveniently. The system also ensures full interoperability across banks, ATMs, and point-of-sale (POS) terminals, creating a seamless user experience.
SanuPay is spearheading the rollout using OpenWay’s Way4 platform, a comprehensive digital payment infrastructure that supports card issuing, acquiring, switching, and mobile wallet services. This robust platform is designed to be resilient, scalable, and compliant with international standards, making it well-suited for Ethiopia’s evolving financial environment.
As part of the initial deployment, SanuPay plans to issue:
- 4 million debit and prepaid cards
- 5,000 Visa and Mastercard credit cards
- Operate 10,000 POS terminals
- Deploy 200 ATMs across the country
All of these services will be powered by the Way4 platform. Oromia Bank is expected to be the first financial institution to issue the new domestic credit cards.
“We have selected the best-in-class solution to provide best-in-class payment services in Ethiopia. Partnering with OpenWay and deploying Way4 enables a resilient, scalable, and compliant infrastructure that supports Africa’s digital financial transformation,” said Alfred Gachaga, CEO of SanuPay.
Compared to regional frontrunners like Kenya, where mobile money and card payments are deeply embedded in daily life, Ethiopia has lagged behind in adopting digital financial tools. However, this credit card launch positions Ethiopia to narrow the gap by offering secure, inclusive, and locally managed alternatives to international payment systems.
This development is particularly promising for Ethiopia’s unbanked and underbanked populations, who often face barriers to accessing traditional financial services. By providing a domestic credit solution, the country can extend credit access and digital payment capabilities to a broader segment of the population—without relying on costly international platforms.
With strong backing from the National Bank of Ethiopia and a growing network of fintech partnerships, the country’s payment ecosystem is undergoing a rapid transformation. The launch of the domestic credit card is not just a technological upgrade—it’s a strategic move toward building a more diversified, inclusive, and resilient digital economy.
