Moneta Technologies and Visa partner to support digital payments for Ethiopian merchants & banks

By Pavithra R

Moneta Technologies ‘Amole’, Ethiopia’s mobile eWallet platform and Visa has announced a strategic partnership and the launch of the Amole eCommerce Gateway, using Visa CyberSource infrastructure that supports digital payments for merchants and banks.

Through the collaboration, the companies seek to eliminate barriers to regional and cross-border commerce and offer an expanded set of e-Commerce capabilities to Amole merchants by enabling secure cashless payment solutions in Ethiopia and Kenya. Ethiopian banks licensed by international card associations can now use the Amole eCommerce Gateway to acquire international cards online on behalf of their merchants.

“Today, with this partnership, we can accept digital payments from anywhere. As recently as 2018, a developer or business owner in Ethiopia did not have the ability to accept online payments until Amole introduced its open API platform in July 2018. We started Amole to become the payment and commerce platform to harness the great potential inherent in the B2B2C market that makes Ethiopia the sleeping giant,” said Yemiru Chanyalew Founder and CEO Moneta Technologies.

Amole provides powerful APIs to help developers build digital payments experiences online. Developers can create custom checkout experiences for Amole Wallet and Prepaid card with only a few lines of code. Other integrated features include, instantly send bulk transfers to Amole Wallets, airtime top-up, a marketplace of digital content, verify the identity of customers through verification APIs, online bill payments, and more. It also supports localized payment channels, including mobile money, USSD, mobile app, QR code, and Telegram Bot payments integrated to its mPOS platform at its 8000 merchants.

“Embracing digital payments and a potentially cashless society is where the future lies. Visa is investing more than ever in our global assets, infrastructure, and digital capabilities to reshape the future of commerce. For merchants, digital payments mean reducing costs associated with handling and losing cash and broadening their customer base as more and more people move away from cash. We are very proud to partner with Moneta Technologies “Amole” to ensure that the market enjoys a range of domestic and international benefits that will transform their e-commerce experience, said Abebe Girmay, Visa’s Country Lead for Ethiopia.

Dashen Bank will be the first bank to use the Amole eCommerce Gateway making it the first Ethiopian bank to acquire all 3 major international cards (Visa, Mastercard and American Express).

Founded in 2018, Moneta Technologies S.C. is a FinTech company, fully-owned subsidiary of Fettan Holding. Moneta Payment solution “Amole”​ is a secure and efficient payment platform that links consumers, banks, merchants, mobile content aggregator and service providers into an electronic payment ecosystem.