Addis Ababa, Ethiopia — Siinqee Bank has officially launched a new MasterCard service, marking a significant step in its strategy to expand financial inclusion and enhance international payment options for its customers.
The launch follows the signing of a five-year strategic partnership with MasterCard, a deal that allows Sinqee Bank to issue MasterCard prepaid cards to its clients. This makes Sinqee Bank the first non-member financial institution outside the Payment Switch System (PSS) main network to introduce the globally recognized service.
According to the PSS, Sinqee Bank’s achievement illustrates how Ethiopia’s financial sector is diversifying beyond traditional member banks, demonstrating the growing role of private institutions in shaping the country’s digital finance ecosystem.
A Secure, Global Payment Solution
The new prepaid MasterCard will provide Sinqee Bank’s customers with a secure and universally accepted payment method—an especially valuable option for Ethiopians traveling abroad or making international transactions. The card is expected to simplify cross-border payments and help bridge a key gap in Ethiopia’s banking services, where reliable global payment options remain limited.
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