Discover® Global Network and Awash Bank, the largest, most profitable private bank in Ethiopia, have signed an agreement that will help extend merchant acceptance across that region. The agreement makes it possible for Discover® to collaborate with additional acquiring banks in the region in an effort to increase acceptance for Discover, Diners Club International®, PULSE® and network alliance partner cards from POS, ATMs and e-commerce payment pages.
“Our cardholders, both as corporate travelers and tourists, wish to use their preferred card as they resume their international travels to Ethiopia,” said Matt Sloan, Vice President of International Markets, Discover Global Network. “This partnership with Awash Bank is key in regenerating transaction volumes in Ethiopia.”
Awash Bank has approximately 25% market coverage, which represents a strong entry for Discover into an important market with a proven market leader. Awash Bank is also the majority owner of the PSS switch, which manages the acquiring platforms for five other Ethiopian banks.
“Our partnership with Discover Global Network reflects our commitment to increase and diversify payments for our local and international merchant clients and, in doing this, they will have more opportunities for revenue growth,” said Tadesse Gemeda, Chief Wholesale Banking Officer, Awash Bank.
Discover Global Network, the payments brand of Discover® Financial Services, includes Discover, Diners Club International and PULSE and more than 20 alliance partner networks including relationships in Brazil, South Korea, Nigeria, India and Turkey. It is present in over 200 countries and territories with more than 50 million merchant acceptance locations and over 2 million ATM cash access locations.
The information provided herein is sponsored by Discover® Global Network. It is intended for informational purposes, and is not intended as a substitute for professional advice.