BPC Banking Technologies Launches National Payment System of Ethiopia

BPC Banking Technologies Launches National Payment System of Ethiopia
23.05.2016 10:45 am

BPC Banking Technologies Launches National Payment System of Ethiopia

Payments

BPC Banking Technologies, a world leading provider of payment solutions, announces the launch of the national payment system of Ethiopia, EthSwitch S.C. based on SmartVista. As of today for the first time, all 17 of the countries retail banks are connected together via the unified payment system.

EthSwitch was formed by all the banks in Ethiopia, and with the backing of the Ethiopian Bankers’ Association and the country’s central bank known as the National Bank of Ethiopia. Following the implementation of the full SmartVista suite all the banks’ payments are now centralized.

The key aim of the project was to bring interoperability to the country, as a result clients of any Ethiopian retail bank may access services via all the ATMs in the country for cash withdrawals, make POS payments in any terminal and utilize cheque balancing. With SmartVista as the core of the whole system this has also enabled smaller banks to issue and acquire cards on their own and in addition benefit from outsourced processing.

Ato Bizuneh Bekele, CEO of EthSwitch S.C., said “All connected member banks now benefit from interoperability as well as providing a new level of convenience and access to Ethiopian citizens, merchants, and organizations. As a result of our relationship with BPC Banking Technologies, it became obvious that the new system, powered by SmartVista, that the Ethiopian financial ecosystem will find new levels of efficiency, availability and accessibility while also significantly reducing the levels of cash usage. Currently the system integrates over 1500 ATMS, over 13,000 POS-terminals, and 2.5 million cardholders all over the country. These numbers are expected to grow further due to the ease of use to Banks' customers and hence the demand that the interoperability which just went operational will create. We aim to use this foundation to launch further e-Payment services so as to bring about greater financial inclusion to Ethiopia”, adds Ato Bizuneh.

“With the deployment of SmartVista, we are proud to help drive such a vital project for Ethiopia’s national economy. As of today for the first time all the retail banks in the country are switched to our single processing platform acting as the central core for payments in the country. With interoperability delivered for the first time this will see transaction volumes continue to grow benefiting, consumers, banks and merchants”, says Daryl Berg, MD BPC Banking Technologies, Sub-Sahara Africa.

Related News

PayNearby announces partnership with Sub-K Impact Solutions; enables access to loan repayment options through its retail network

India’s largest agent banking platform, PayNearby is happy to formally announce its partnership with Sub-K Impact Solutions Ltd (Sub-K), a leading player facilitating loans,... Read more »

Banking Circle secures five finalist places at 2020 Emerging Payments Awards

Banking Circle, the financial infrastructure provider to Payments businesses and Banks has secured 5 finalist slots in the 2020 Emerging Payments Awards.... Read more »

Starling, TranSwap and Remitr among first wave to sign up to Currencycloud Spark

New solution provides global multi-currency accounts to Fintechs and FIs

Read more »

Tinkoff launches charitable scheme ‘Cashback to Give Back’

Tinkoff is happy to announce the launch of its new charitable scheme Cashback to Give Back. The aim of the project is to help get... Read more »

PPRO announces 85% volume growth despite pandemic, accelerates plans with new investment from Sprints and Citi

PPRO, the world’s leading local payments platform-as-a-service, reports today an 85% increase in transaction volume from last year, highlighting the... Read more »

Absa ARO Completes Fully Virtual Implementation as It Moves to Fiserv for Card Management and Processing Across Nine African Nations

Fiserv, Inc. (NASDAQ: FISV) a leading global provider of payments and financial services technology, today announced that... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel