Abay Bank S.C. and Arif Pay Financial Technology Company agreed to work together in speeding up the digitization of banking services through a fresh agreement signed on Monday.
The agreement has signed between Yehuala Gesesse, Abay Bank’s President and Habtamu Tadesse, CEO of Arif Pay Financial Technology.
Through Arif Pay mobile app, customers of Abay Bank can now made payments, which will be deducted from their account, Habtamu told Origins Business.
The mobile app will also save time and money customers have been waiting and paying to receive their Automatic Teller Machine (ATM) cards. In this regard, waiting for 15 days to get ATM cards will dramatically cut to 2 to 3 minutes via the new scheme, even without any costs.
“Over $1 million has been invested to develop the software,” said Habtamu. “It was developed by all Ethiopian professionals and granted a safety approval from pertaining organizations”.