Ethiopia-based Zemen Bank has partnered with Switzerland-based software company Netcetera to augment its online payments offering. Zemen Bank wanted to engage with Netcetera, an experienced digital player with the right digital software to allow them to take off in the African payments market and offer customers a seamless online payment experience.

Keeping payments safe Netcetera’s Access Control Server allows Zemen to authenticate cardholders online with multi-factor authentication and prevent fraudulent payments. Together they worked to onboard customer cards and are now enabling Zemen Bank customers to make simple, secure ecommerce transactions with all payment card schemes, while ensuring highs level of security for financial data. Zemen Bank’s officials stated that they are excited to partner with Netcetera in providing a secure ecommerce payment ecosystem to their clients and to promote ecommerce marketplaces, vital for Ethiopia’s digital strategy 2025.

They appreciated Netcetera’s professionalism, flexibility, and setting of realistic goals for this project. The comprehensive onboarding also allowed them to have all their questions answered and explore new functions. Also commenting on the partnership, representatives from Netcetera said they are thrilled to take this step into the Ethiopian market and support a growing digital payment ecosystem.

They are confident that the ecommerce sector in East Africa will continue to flourish, and They will continue to follow and support Zemen Bank on that journey. ACS functionality will be available to Zemen Bank customers in March 2023. The payments ecosystem in Ethiopia The market for digital payments is growing steadily in Ethiopia, as more and more customers gain better access to ecommerce sites and want to shop from their mobile devices.

The number of ecommerce consumers in Ethiopia is projected to reach 44. 2 million users in 2025. This means issuers need to set up robust payment processing systems which allow smooth and secure communication of data between issuers, merchants, and acquirers.

What does Netcetera do? Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare, and insurance. More than 2,500 banks and issuers, and 160,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The company covers the entire IT lifecycle, from ideation and strategy to implementation and operation.

The balanced combination of the new technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with locations across Europe, Asia, and the Middle East. For more information about Netcetera, please check out the company profile in The Paypers Company Database.

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