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Driving Digital Payment in Africa: Zemen Bank and Netcetera Join Forces

Business Wire via ITWeb, 15 Mar 2023

DUBAI, United Arab Emirates--(BUSINESS WIRE)-- Zemen Bank, a commercial bank based in Addis Ababa, wanted to offer easy online payments to its customers without compromising on security. The bank is known for its service excellence, innovation and pioneering new products and adopting new services. They wanted to engage with Netcetera, an experienced digital player with the right digital software to allow them to take off in the African payments market and offer customers a seamless online payment experience. 

The market for digital payments is growing steadily in Ethiopia, as more and more customers gain better access to e-Commerce sites and want to shop from their mobile devices. The number of eCommerce consumers in Ethiopia is projected to reach 44.2 million users in 2025. This means issuers need to set up robust payment processing systems which allow smooth and secure communication of data between issuers, merchants and acquirers.

Netcetera’s Access Control Server allows Zemen to authenticate cardholders online with multi-factor authentication and prevent fraudulent payments. Together they worked to onboard customer cards and are now enabling Zemen Bank customers to make simple, secure e-commerce transactions with all payment card schemes, while ensuring the highest level of security for financial data.

Amha Tadesse, CIO of Zemen Bank said, “We are excited to partner with Netcetera in providing a secure e-commerce payment ecosystem to our clients and to promote E-Commerce marketplaces vital for Ethiopia’s digital strategy 2025”. We appreciated Netcetera’s professionalism, flexibility and setting of realistic goals for our project. The comprehensive onboarding also allowed us to have all our questions answered and explore new functions.” Jad Bejjani, Senior Business Development Executive at Netcetera states “We are thrilled to take this step into the Ethiopian market and support a growing digital payment ecosystem. We are confident that the e-commerce sector in East Africa will continue to flourish, and we will continue to follow and support Zemen Bank on that journey.” ACS functionality will be available to Zemen Bank customers in March.

About Netcetera

Netcetera is a global software company with cutting-edge IT products and individual digital solutions in the areas of secure digital payment, financial technologies, media, transport, healthcare and insurance. More than 2,500 banks and issuers, and 160,000 merchants rely on the digital payment solutions and globally certified 3-D Secure products of the market leader for payment security. The owner-managed company covers the entire IT lifecycle, from ideation and strategy to implementation and operation. The balanced combination of the latest technologies and proven standards ensures investment security, from large-scale projects to innovative start-ups. Founded in 1996, Netcetera is a holding company with around 800 employees and is headquartered in Zurich, Switzerland, with locations across Europe, Asia, and the Middle East.

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About Zemen Bank

Unique in the Ethiopian banking landscape, Zemen Bank's operations are based on multiple branch outlets whose activities are supplemented by several service points such as ATMs, POS terminals, Foreign Exchange Bureaus and Banking Kiosks. Zemen Bank has recently been certified in line with PCI DSS standards. A key distinguishing feature of Zemen Bank is the highly dedicated and experienced staff: committed to meeting and exceeding all banking needs and to tailoring offerings for all specialized requirements. Also distinctive about Zemen Bank is the focus on technologically-based banking services. All cash deposit and withdrawal services at the bank’s branches are fully computerized. Opening accounts is easily completed in about 10 minutes with your personal information processed via applications, pictures, and signatures that are securely and digitally recorded.

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Angelika Seiler
Head of Content
+41 44 297 58 09

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