The Commercial Bank of Ethiopia (CBE) and Seregela PLC inked an agreement to collaborate on payment systems. The agreement will enable customers of Seregela to effect payment using CBE card, mobile banking, or CBE Birr.

CBE and Seregela also launched an application called “Zare Yigzu, Nege Yishelemu” which allowed users to pay for their purchases within a month after the date of purchase. It is to be recalled that Dashen Bank introduced a similar service called Dube Ale which allowed its customers enjoy credit transaction services which would be payable after a maximum of 12 months.

CBE was able to facilitate Birr 2 trillion using its digital channels during the past year. The bank has deployed applications such as CBE Birr and machines including ATM and POS machines which are used for digital transactions. It currently has 1838 branches and more than 35 million customers. The bank also facilitates 20 million monthly transactions.

Source: Addis Zemen