Domestic Credit Card Introduction in Ethiopia Through Collaboration Between SanuPay and OpenWay
In a groundbreaking move, SanuPay, a leading card technology firm in East Africa, has partnered with OpenWay to introduce Ethiopia's first domestic credit cards. This partnership is set to significantly impact the country's digital financial infrastructure.
The collaboration represents a major step towards modernizing Ethiopia's financial sector by introducing a formalized and digitally enabled infrastructure. OpenWay's Way4 platform, chosen by SanuPay, offers end-to-end solutions for card issuance, acquiring, switching, and mobile wallet management, enhancing the overall efficiency and scalability of the financial system.
The rollout aims to reduce reliance on cash and promote a cashless economy, aligning with broader regional trends in digital payments. By issuing four million debit and prepaid cards and 5,000 credit cards, the partnership expands financial access to a broader segment of the population, leading to increased financial inclusion.
The introduction of a co-branded loyalty card with Sheba Miles by Oromia Bank further enhances consumer engagement and loyalty, potentially boosting economic activity. This move signals a shift towards more traditional digital payment tools, diversifying the country's financial offerings and aligning it with other East African nations that have embraced card-based transactions.
The partnership involves the deployment of 10,000 POS terminals and 200 ATMs across the country, all running on the Way4 platform. This widespread infrastructure rollout significantly enhances the country's ability to support digital transactions, facilitating both domestic and international transactions.
Alfred Gachaga, CEO of SanuPay, stated that the partnership with OpenWay and deployment of Way4 enables a new era of card issuing in Ethiopia and beyond. OpenWay's Regional Director, Hermann Mike, expressed pride in supporting SanuPay's vision and commitment to empowering innovative financial institutions across Africa.
SanuPay's regional scaling strategy will provide a blueprint for homegrown fintechs partnering with global infrastructure providers. The first domestic credit cards are expected to be issued by Oromia Bank in Ethiopia. This collaboration between SanuPay and OpenWay reflects OpenWay's commitment to empowering Africa's modern, inclusive, and interoperable payments landscape.
Looking ahead, SanuPay plans to scale its model regionally, aiming to build Africa's next-generation payment ecosystem. The company will continue to support emerging fintechs in issuing virtual cards, enabling tokenisation, building digital wallets, and integrating mobile payments, as demonstrated in Rwanda. SanuPay's vision extends beyond Ethiopia, with plans to digitize card processing, cross-border payments, and remittances in Kenya.
[1] OpenWay. (n.d.). Way4 Platform. Retrieved from https://www.openway.com/products/way4-platform/ [2] SanuPay. (n.d.). About Us. Retrieved from https://www.sanupay.com/about-us [3] Ethiopian Herald. (2021, October 20). Ethiopia to issue first domestic credit card. Retrieved from https://www.ethiopianherald.com/2021/10/20/ethiopia-to-issue-first-domestic-credit-card/ [4] Business Daily Africa. (2021, October 21). SanuPay, OpenWay to issue 4 million cards in Ethiopia. Retrieved from https://www.businessdailyafrica.com/news/africa/east-africa/sanupay-openway-to-issue-4-million-cards-in-ethiopia/5055468-4925098
- The partnership between SanuPay and OpenWay introduces the Way4 platform, a technology that offers end-to-end solutions for card issuance, acquiring, switching, and mobile wallet management, to the Ethiopian mobile financial industry.
- The rollout of this partnership aims to strengthen the infrastructure of the Ethiopian finance business by issuing four million debit and prepaid cards, enhancing financial access and fostering financial inclusion across the country.
- In line with regional trends in fintech, the collaboration aims to promote a cashless economy and reduce reliance on cash in the finance sector.
- As part of their regional scaling strategy, SanuPay plans to emulate the Ethiopian model by partnering with global technology providers to build a next-generation payment ecosystem across Africa.
- By delivering its solutions in Ethiopia, OpenWay demonstrates its commitment to empowering modern, inclusive, and interoperable digital payment landscapes in the African fintech industry.
