Wegagen Bank has officially launched its International Pre-Paid Visa card service, enabling customers, embassy staff, and international organization employees to make global payments without carrying cash. The launch ceremony, held at the Planet Hotel in Mekelle, was attended by dignitaries including Atsbeha G/Egziabher (PhD), Head of the Bureau of Culture and Tourism under the Interim Administration of Tigray, Wegagen Bank’s Board of Directors & Senior Management, Visa Inc. representatives, members of the Ethiopian Diaspora, and other distinguished guests.
The new card service, a collaboration between Wegagen Bank and Visa Inc., allows customers to transfer funds and make payments at ATMs and Point-of-Sale (POS) machines worldwide. It also facilitates online e-commerce transactions and provides an alternative digital means of sending money from abroad to loved ones via top-ups.
Atsbeha G/Egziabher (PhD) commended Wegagen Bank for its commitment to digital banking solutions and urged the Ethiopian diaspora to actively participate in the region’s tourism and investment opportunities.
Solomon Tesfaye, Deputy Chief Executive Officer- Technology of Wegagen Bank, highlighted the convenience and security of the new card service, emphasizing its role in expanding financial access for customers.
Yared Endale, Country Manager of Visa Inc., emphasized the importance of digital transformation for economic growth in Ethiopia. He stated that Visa Inc. has established local operations in Ethiopia, one of 10 offices across Africa, to support and strengthen the local financial ecosystems.
The Visa card, according to Yared, enables individuals to fully engage in the mainstream economy by broadening access to international financial services and offering convenient global payment options. He added that Visa Inc. is committed to collaborating with Wegagen Bank to provide a range of accessible digital services to the community.
Wegagen Bank, established in 1997, has grown significantly, with a paid-up capital exceeding Birr 5 billion and a total capital of Birr 10 billion. The bank offers a variety of banking services, including conventional and interest-free Wegagen Amana banking, through its extensive network of branches, ATMs, POS machines, agents, and digital platforms. The bank recently launched a digital loan service application called Efoyta, designed to support micro, small, and medium enterprises.
