Mastercard has teamed up with Ethiopian financial solution provider EagleLion System Technology. The partnership aims to empower local businesses and consumers to seamlessly accept secure digital payments.

This joint effort marks a significant stride forward for both companies. Specifically, it combines EagleLion’s expertise in digital financial solutions with Mastercard Gateway’s cutting-edge payment technology. It directly taps into the challenge and opportunity of advancing digital financial services in Ethiopia.

Currently, local businesses have limited access to secure and efficient digital payment acceptance solutions, primarily relying on cash transactions. As Ethiopia endeavours to embrace digital transformation, this collaboration contributes to the government’s modernisation ambitions. It enables efficient and transparent cashless transactions, including payments for public services and tax collection.

Mastercard collaboration positions EagleLion as a key player in Ethiopian payments

Bersufekad Getachew, CEO of EagleLion said: “Over the past few years, we have successfully forged strategic alliances with more than 30 distinguished financial institutions, governmental Institutes, and international organisations. This collaboration with Mastercard has positioned our company as a key player in the industry. It facilitates enhanced services and fosters innovation within our network.”

The new payment solution provides greater access to a range of benefits, including enhanced security, speed and convenience for consumers. Additionally, merchants will be provided added peace of mind, with consumer credentials safeguarded against potential breaches.

“We believe technology and innovation play a critical role in unleashing full business potential. We’re committed to helping our stakeholders drive digital transformation across regions. Together, we will continue driving financial inclusion by enhancing access to next-generation payment solutions and services for merchants”, added Mark Elliott, Division President for Africa, Mastercard.

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With the launch of these new payment flows, Mastercard aims to connect and power an inclusive, digital economy. One that benefits everyone, everywhere by making payments safe, simple and smart for the people and businesses of Ethiopia.