Dashen Bank and Mastercard introduce the first virtual card
Dashen Bank international prepaid card in collaboration with Mastercard, in addition to the usual name-printed plastic card, introduced a virtual card, the first in the history of the Ethiopian banking industry,
Speaking at the ceremony, Dashen Bank CEO Asfaw Alemu said that Dashen Bank’s introduction of this one-of-a-kind card shows the bank’s commitment to providing its customers with easy, convenient, and reliable financial services.
He also pointed out that the card is an option where customers can use their money in different parts of the world without any risk. MasterCard’s East Africa Manager, Shehriar Ali, said that MasterCard’s partnership with Dashen Bank will make a significant contribution to society by introducing services such as Alem Aqem Card in Ethiopia.
“We are honored to be able to offer various digital services in collaboration with Dashen Bank and enable this type of payment option for the business community and other customers to benefit from,” said mastercard’s appointed manager.
The Dashen Prepaid MasterCard presents a multifaceted solution to our customers. Beyond serving as a tool for ATM and POS transactions, it seamlessly extends its capabilities to e-commerce payments. This dynamic offering is available in both physical and virtual card forms, ensuring maximum flexibility for our clients.
Virtual international card giving multiple service for its customers
Within the realm of physical cards, this service offers two variations: one with the cardholder’s name printed on it and another without. This innovative approach empowers users to continue enjoying the benefits of Dashen MasterCard even when their foreign currency allocation is depleted. By simply inserting the card into an ATM or POS machine, customers can seamlessly rejuvenate its functionality. This convenience extends further to encompass contactless transactions, adding an extra layer of ease and security to every withdrawal or payment made.
To safeguard the integrity of these transactions, the physical card is fortified with a personalized PIN, offering a reliable shield against unauthorized access.
Meanwhile, our virtual card variant operates under the safeguard of a one-time password system, ensuring that each digital transaction is carried out securely and seamlessly. The Dashen Prepaid MasterCard stands as a testament to our commitment to providing versatile and secure financial solutions tailored to our valued customers’ needs.
To use the card, customers can access the service by holding a passport, visa, and flight ticket at the nearest Dashen Bank branch. In addition to the card, Dashen Bank and MasterCard have also introduced the MasterCard Payment Gateway System, which allows businesses to receive their payments online from anywhere in the world.
This MasterCard Payment Gateway System is considered to be a better service option by accepting three types of cards. This is a modern payment processing line for business institutions to receive payments and make sales, and for charity organizations to collect membership fees and other services.