Latest news with #OromiaBank
Yahoo
22-07-2025
- Business
- Yahoo
SanuPay launches Ethiopia's first domestic credit card with OpenWay
SanuPay, a UAE-based payment processor, has collaborated with payments software platform OpenWay to introduce Ethiopia's first locally issued credit card. The credit card infrastructure is built on OpenWay's Way4 platform, which offers card issuance, transaction acquiring, system switching, and the management of mobile wallets. The scope of the project encompasses the distribution of four million debit and prepaid cards, in addition to 5,000 credit cards bearing the Visa and Mastercard insignia. Furthermore, the initiative will see the installation of 10,000 POS terminals and the operation of 200 ATMs across Ethiopia, all integrated with the Way4 system. OpenWay Sub-Saharan Africa regional director Hermann Mike said: 'This collaboration with SanuPay reflects our commitment to empowering innovative financial institutions across Africa. 'By leveraging our Way4 platform, Ethiopia is not only launching its first domestic credit card but also laying the foundation for a modern, inclusive, and interoperable payments landscape.' Oromia Bank is slated to be the initial issuer of these new domestic credit cards, with the bank also preparing to offer a joint loyalty card in partnership with Sheba Miles. SantimPay, which as a licenced payment system operator under the National Bank of Ethiopia, has supported the launch with infrastructure. Beyond Ethiopia, SanuPay is pursuing opportunities to enhance financial services in the East African region. In Kenya, the company is working with local banks and fintech firms to refine card processing systems and streamline remittance and cross-border payment processes. Meanwhile, in Rwanda, SanuPay is equipping fintech entities with the capabilities to issue virtual cards, utilise tokenisation, and introduce digital wallets and mobile payment integrations. SanuPay CEO Alfred Gachaga stated: 'We have selected the best-in-class solution to provide best-in-class payment services in Ethiopia. 'By partnering with OpenWay and deploying Way4, SanuPay is enabling a new era of card issuing in Ethiopia and beyond—building resilient, scalable, and compliant infrastructure that supports Africa's digital financial transformation.' "SanuPay launches Ethiopia's first domestic credit card with OpenWay " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Finextra
21-07-2025
- Business
- Finextra
Ethiopia embraces its first domestic credit card
SanuPay, a rising card technology firm in East Africa, is partnering with OpenWay, a global provider of digital payment software, to introduce Ethiopia's first domestic credit card. 0 This rollout will signal a significant step in the country's shift toward formalised, digital financial infrastructure. Together with OpenWay and SantimPay, a licensed payment system operator whose mission is to build a cashless and connected economy, SanuPay plans to issue 4 million debit and prepaid cards and 5,000 Visa and Mastercard credit cards on OpenWay's Way4 digital payments software platform for issuing, acquiring, switching, and mobile wallet solutions. In addition to card issuance, SanuPay will operate 10,000 point-of-sale (POS) terminals and 200 ATMs nationwide—all running on Way4. The first domestic credit cards are expected to be issued by Oromia Bank, which also intends to offer a co-branded loyalty card in partnership with Sheba Miles. SanuPay's vision extends beyond Ethiopia. In Kenya, the company is partnering with regional banks and fintechs to digitise card processing, cross-border payments, and remittances, leveraging integrations with local and global payment schemes. In Rwanda, SanuPay will support emerging fintechs in issuing virtual cards, enabling tokenisation, building digital wallets, and integrating mobile payments. OpenWay's Way4 platform has already gained ground in Africa, having been adopted by institutions such as Equity Bank. Its appeal lies in its configurability—95% of functions require no custom development—allowing clients to move quickly in volatile or fast-evolving markets. While mobile wallets have made strides across Africa, credit cards have lagged, largely due to limited infrastructure and conservative regulatory environments. Ethiopia's entry into domestic credit issuance, represents both a technological and policy shift, laying the groundwork for broader financial access. SanuPay plans to scale its model regionally and will provide a blueprint for how homegrown fintechs partner with global infrastructure providers will build Africa's next-generation payment ecosystem. 'We have selected the best-in-class solution to provide best-in-class payment services in Ethiopia. By partnering with OpenWay and deploying Way4, SanuPay is enabling a new era of card issuing in Ethiopia and beyond—building resilient, scalable, and compliant infrastructure that supports Africa's digital financial transformation,' said Alfred Gachaga, CEO at SanuPay. 'This collaboration with SanuPay reflects our commitment to empowering innovative financial institutions across Africa,' said Hermann Mike, Regional Director, Sub-Saharan Africa, at OpenWay. 'By leveraging our Way4 platform, Ethiopia is not only launching its first domestic credit card but also laying the foundation for a modern, inclusive, and interoperable payments landscape. We're proud to support SanuPay's vision.'
