Abyssinia Bank has announced a partnership with FastPay Digital LLC, a U.S.-based company with a branch in Ethiopia, to enhance its international digital remittance services. The agreement is set to be signed today in Addis Ababa.

The collaboration introduces a streamlined system that allows Ethiopians abroad to send money home directly through the FastPay app. By linking their Visa or MasterCard accounts, users can transfer funds seamlessly, with payments reaching their families and friends in Ethiopia through Abyssinia Bank. The service will be offered free of transaction fees, making it a more attractive alternative to informal and costlier remittance channels.

As part of the initiative, Abyssinia Bank has also launched CyberSource payment technology in partnership with FastPay, further strengthening the bank’s digital capacity. Customers abroad will first register with the app to connect their international payment cards, enabling faster and more secure money transfers.

The bank noted that the service is expected to boost foreign currency inflows while supporting the government’s efforts to reduce reliance on informal remittance systems. Abyssinia Bank emphasized that this partnership continues its tradition of leveraging modern banking technologies, built over 29 years of service to its customers.

Source: Sheger FM 102.1