Commercial Bank of Ethiopia launches virtual and plastic cards with MasterCard

The Commercial Bank of Ethiopia (CBE), in collaboration with MasterCard, has launched a new service offering both virtual and plastic payment cards. 

The launch ceremony, held on March 27, 2025, at CBE’s headquarters, was attended by Abe Sano, President of the Commercial Bank of Ethiopia, Mark Elliott, President of MasterCard Africa, and senior executives from both companies.

Streamlining transactions with virtual and plastic cards

Abe Sano emphasised that this partnership would modernise, speed up, and secure card payment services for consumers. It will enhance the payment system by providing global access, simplifying transactions, and integrating virtual services with mobile banking. 

The bank’s substantial mobile banking market share, serving over 40 million customers, will further boost the adoption of these digital banking solutions.

Customers can use the new MasterCard plastic cards both in-person at CBE branches and virtually via the bank’s mobile banking application.

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A milestone for the Commercial Bank of Ethiopia

Founded in 1942, CBE has long been a pioneer in Ethiopia’s financial services, introducing Western Union money transfers and ATM services to the country. 

It was also the first bank to offer interest-free financial services. With 1,942 branches nationwide and a robust correspondent network of over 750 banks through SWIFT, CBE is a significant player in Ethiopia’s socioeconomic development. 

As of June 30, 2024, the bank held assets of Birr 1.4 trillion and employed more than 81,000 staff. It is headquartered in East Africa’s tallest skyscraper.