Ethio telecom with VISA Inc. aimed at introducing the first wallet-based Virtual Visa Card in Ethiopia in a bid to enhance the current international money transfer remittance services through the introduction of telebirr Remit App and Visa Direct.
Visa Direct service enables Visa cardholders in the globe to transfer money to our country using telebirr virtual card number. This service allows both individuals and institutions to send money from over 190 countries, offering greater efficiency and lower service fees than the current remittance service in Ethiopia. To receive money from overseas via Visa Direct, customers must first register for Virtual Visa service using telebirr Super App and share the 16-digit virtual Visa card number with the sender, which will be received within one hour.
telebirr Remit service is designed to enable customers residing abroad to securely send money instantly to their friends and relatives’ telebirr mobile number utilizing the cyber source payment gateway of Bank of Abyssinia. This is facilitated by installing the newly developed telebirr Remit App on their mobile devices. With this service, customers can receive remittances from nine countries, namely the United States, Canada, Israel, Saudi Arabia, the United Arab Emirates, the United Kingdom, South Africa, Italy, and Sweden, by sharing their Telebirr mobile numbers. It is anticipated that the service’s coverage will expand further in response to customer demand, incorporating additional countries over time.
This agreement enables customers to obtain a Virtual Visa Card number and presents enhanced alternatives to traditional remittance through Visa Direct and telebirr Remit. Additionally, it extends the service by facilitating seamless online cross-border payments, including for e-commerce in the near future. This significantly broadens our country’s digital financial ecosystem and enhances the conveniences available to citizens. These new services also aim to foster job creation and propel the transition towards establishing a cashless digital society, ultimately providing enhanced benefits to our valued customers.
telebirr customers has reached an impressive 47.55 million in the 2023/24 Ethiopian Fiscal Year. Its ongoing collaboration with Dashen Bank and the Commercial Bank of Ethiopia is propelling the advancement of digital financial services.