Mastercard Teams with EagleLion to Advance Secure Digital Payments in Ethiopia

Mastercard Teams with EagleLion to Advance Secure Digital Payments in Ethiopia

By Press Release, 29 May 2024

Mastercard, a technology leader in the global payments industry, has collaborated with the EagleLion System Technology, one of Ethiopia’s leading financial solution providers, to empower local businesses and consumers to seamlessly accept secure digital payments.

This joint effort marks a significant stride forward for both companies, combining EagleLion's expertise in digital financial solutions with Mastercard Gateway’s cutting-edge payment technology. It directly taps into the challenge and opportunity of advancing digital financial services in Ethiopia.

Currently businesses in the region have very limited access to secure and efficient digital payment acceptance solutions, primarily relying on cash transactions. As Ethiopia endeavors to embrace digital transformation, this collaboration contributes to the government's modernization ambitions, enabling efficient and transparent cashless transactions, including payments for public services and tax collection.

Bersufekad Getachew, CEO of Eaglelion expressed his enthusiasm about the collaboration, stating, “Over the past few years, we have successfully forged strategic alliances with more than 30 distinguished financial institutions, governmental Institutes, and international organizations. This collaboration with Mastercard has positioned our company as a key player in the industry, facilitating enhanced services and fostering innovation within our network.”

The new payment solution will provide greater access to a range of benefits, including enhanced security, speed and convenience for consumers. Additionally, merchants will be provided added peace of mind, with consumer credentials safeguarded against potential breaches.

“We believe technology and innovation play a critical role in unleashing full business potential and we’re committed to helping our stakeholders drive digital transformation across regions. Together, we will continue driving financial inclusion by enhancing access to next-generation payment solutions and services for merchants”, said Mark Elliott, Division President for Africa, Mastercard.

 With the launch of these new payment flows, Mastercard aims to connect and power an inclusive, digital economy that benefits everyone, everywhere by making payments safe, simple and smart for the people and businesses of Ethiopia.

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