News

Ethiopian banks attain ATM, POS interoperability with SmartVista

May 12, 2016

BPC Banking Technologies, a provider of payment solutions, and EthSwitch S.C. have announced the launch of the national payment system of Ethiopia, using SmartVista.

For the first time, Ethiopia's 17 retail banks have been linked by a unified payment system, giving accountholders the ability to withdraw cash from any ATM in the country, according to a BPC press release. The system also enables POS payments at any terminal.

Additionally, with SmartVista, smaller banks can now issue and acquire cards on their own and benefit from outsourced processing.

EthSwitch was formed by Ethiopian banks with the backing of the Ethiopian Bankers' Association and the National Bank of Ethiopia.

"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," said EthSwitch CEO Ato Bizuneh Bekele. "Currently the system integrates over 1,500 ATMS, over 13,000 POS terminals, and 2.5 million cardholders all over the country. … We aim to use this foundation to launch further e-Payment services so as to bring about greater financial inclusion to Ethiopia."