Siinqee Bank, in collaboration with Premier Switch Solution (PSS), has launched MasterCard prepaid card services in Ethiopia, marking a major milestone for the country’s financial sector and expanding access to secure digital payments.

This launch makes Siinqee Bank the first financial institution outside the PSS main network to issue internationally recognized MasterCard-branded prepaid cards. The initiative aims to advance financial inclusion and promote the use of digital finance tools in Ethiopia, where access to comprehensive global payment options has been limited.

The MasterCard prepaid card provides a secure and globally accepted payment solution, ideal for Ethiopians traveling abroad or engaging in international transactions. With its contactless, prepaid features, the card offers convenience, security, and ease of use, filling a critical gap in Ethiopia’s banking services.

Siinqee Bank and PSS Launch MasterCard Prepaid Card Service in EthiopiaSiinqee Bank President Nway Megersa highlighted the bank’s evolution from a microfinance institution to a commercial bank, stressing its commitment to innovation. “This partnership with MasterCard underscores our dedication to meeting the evolving needs of our customers,” he said.

The collaboration with PSS, Ethiopia’s leading payment technology provider, aligns with national financial inclusion goals. Industry experts see this move as part of a growing trend among Ethiopian banks to partner with global networks, fostering innovation, competition, and expanded access to modern financial services.

Source: Capital Newspaper