Latest news with #paymentprocessor
Yahoo
7 days ago
- 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
Yahoo
15-07-2025
- Business
- Yahoo
Elliott builds stake in Global Payments after Worldpay deal, Financial Times reports
(Reuters) -Activist hedge fund Elliott Management has built a significant stake in Global Payments following the payment processor's deal for Worldpay, the Financial Times reported on Tuesday. Global Payments had in April agreed to buy rival Worldpay from FIS and private equity firm GTCR for $24.25 billion in a three-way deal. Shares of Global Payments had closed down 17.4% after the deal was announced. They were up about 6% in extended trading on Tuesday. Global Payments and Elliott Management did not immediately respond to Reuters' requests for comment.
