Mastercard seeks entry into Ethiopia's domestic payments market

Mastercard is actively seeking regulatory approval to enter Ethiopia's domestic payment market, aiming to expand beyond its current role in international and cross-border transactions. The company is currently engaged in discussions with local regulators and payment processors, including EthSwitch. According to Shehryar Ali, Mastercard's Vice President for East Africa and the Indian Ocean Islands, the proposed model emphasizes contactless payment solutions. This includes enabling payments through smartphones and wearable devices, such as payment rings, which customers would tap against point-of-sale (POS) terminals rather than relying solely on physical cards. This initiative marks a significant strategic push to integrate Mastercard more deeply into Ethiopia's local financial infrastructure.