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Ethiopian Postal Service to pioneer electronic payment and purchasing services with Fettan™
With the aim of improving the flow of commerce in Ethiopia, the Ethiopian Postal Service and Offshoring 2.0 Technology Services, PLC, have agreed to jointly provide the Fettan™ payment services through postal facilities nationwide.
Fettan™ is Ethiopia's first electronic payment system, allowing people and businesses to transact electronically, using mobile phones, smart cards, and the internet. Fettan™ changes the face of commerce in Ethiopia, enabling any consumer with a mobile phone to pay for goods and services. Fettan™ is also a truly Ethiopian solution, conceived and built by Ethiopians, for Ethiopians.
The Ethiopian Postal Service will operate Fettan™ through its many convenient locations, and will help usher in a new era of electronic commerce by offering a full range of services to Fettan™ users. Through the post office, consumers will be able to sign up with Fettan™, obtain Fettan smart cards, manage their accounts, withdraw cash, make payments, and purchase a wide range of products and services offered through Fettan™.
"Paying electronically, using your mobile phone or the web, changes your world dramatically – it is convenient, fast, and most of all, safe and secure." says Yemiru Chanyalew, CEO of Offshoring 2.0 Technology Services, PLC. "The Ethiopian Postal Service becomes the key player in this new ecosystem by providing Fettan™ customers with access to their cash and other physical services."
Fettan™ provides person-to-person money transfers and payments, event ticket purchases, mobile airtime purchases, utility bill payment, and payroll services. Customers load their accounts with cash, pay for transactions using their mobile phone, Fettan™ card, or on the internet, using www.MyFettan.com. Customers will have convenient access to cash in their accounts through any post office location, as well as a growing number of Fettan™ merchant partners.
Similar electronic payment systems are in wide use in countries such as the Philippines, Brazil, and South Africa, where they are enabling both physical and electronic commerce.
The Ethiopian Postal Service will offer Fettan™ services at nearly three hundred locations nationwide, increasing in number over the duration of the agreement.
The Ethiopian Postal Service, founded in 1894, connects Ethiopians among themselves and to the world by providing comprehensive, economical, and innovative postal services. Through its many facilities nationwide, it is known for fast, reliable service, and has pioneered such innovations such as internet-based package tracking for its customers.
Offshoring 2.0 Technology Services, PLC, is a high technology solutions firm based in Addis Ababa. Fettan™ was developed by the firm in response to a growing need for electronic commerce in Ethiopia. In addition to developing advanced technology solutions, Offshoring 2.0 Technology Services also works with clients to develop and achieve their information technology goals.