Ethiopia-based Dashen Bank has partnered with Mastercard to launch a multi-currency international prepaid card, marking a milestone in Ethiopia’s card business. The Dashen Mastercard card offers both plastic and virtual options, aiming to provide customers with flexibility and convenience for their international transactions.

Dashen Bank – Mastercard partnership details As per the press release information Dashen Mastercard features a dual-interface plastic card, enabling customers to make both contact or contactless transactions at ATMs and POS machines, in addition to cash withdrawals from ATMs, payments on POS terminals. Additionally, users have the freedom to carry out online purchases at any global merchant website where Mastercard is accepted. Amongst the key features of the Dashen Mastercard is its reloadable nature, which allows users to load funds onto the card as needed at forex bureaus.

What is more, the card supports multiple currencies, letting customers have separate wallet accounts in different currency types, which helps eliminate the need for an additional foreign currency account. This feature is believed to make the card an ‘ideal choice’ for international payments and travel-related expenses. To have maximum security ensured, the Dashen Mastercard incorporates an added layer of protection by providing customers with a One-Time Password (OTP) for each transaction made on ecommerce platforms, a feature that helps increase customer confidence and protects against unauthorised card usage.

Commenting on the launch, Mr Asfaw Alemu, Chief Executive Officer at Dashen Bank said that the offering showcases Dashen Bank’s commitment to giving customers convenient and secure financial solutions, adding that the Dashen Mastercard empowers travellers with the freedom to manage their finances easily. The press release further highlights that, in addition to the card launch, the two companies have introduced the Mastercard Payment Gateway System, enabling Ethiopia-based merchants with mobile apps or websites to accept international payments online. Global customers now have the option to place online orders and reservations and make payments to merchants integrated with the Mastercard Payment Gateway System leveraging their cards.

The product is in alignment with Ethiopia’s digital transformation strategy as it helps facilitate simplified cross-border payments. Shehryar Ali, Country Manager for East Africa at Mastercard added that the collaboration with Dashen Bank marks a milestone in their efforts to partner with financial institutions in Ethiopia by leveraging their products and solution to bring more people into the digital economy. The spokesperson said that they are looking forward to cooperating with Dashen Bank to enhance the drive to access financial services, and their shared commitment to offer innovative payment solutions and simplified transactions to both merchants and customers.

Per the announcement information, the Dashen Mastercard is available to travellers over 18, and interested individuals can obtain the card by going to a Dashen Bank forex bureau or branch and providing the essential travel documents required during the application process, such as a passport, visa, and flight ticket. .