Ethiopia’s national payments switch EthSwitch says its EthioPay-IPS platform processed more than 1 million transactions in a single day, with a total value exceeding 5 billion birr or about $86 million.
BPC, a global payments technology company, told Impact Newswire the milestone marks a significant expansion of interoperable digital payments across Ethiopia’s financial system.
EthSwitch is the country’s national payment switch, owned by the National Bank of Ethiopia, commercial banks, microfinance institutions, payment institutions and other financial service providers.
The system enables real-time transfers across banks and wallets and is designed to reduce fragmentation in the national payments ecosystem.
The milestone coincided with international recognition for EthSwitch and BPC, which received The Asian Banker’s “Best Financial Inclusion Technology Initiative in Africa for 2026” award.
The award highlights efforts to expand access to digital financial services and strengthen payment infrastructure across African markets.
“Ethswitch and BPC’s national interoperable payments infrastructure demonstrates how shared technology can reduce fragmentation, broaden access to digital financial services, and support more inclusive participation in the formal economy,” commented The Asian Banker Research experts.
EthSwitch chief executive Yilebes Addis said the transaction volume reflects growing adoption of digital payments in Ethiopia.
“As EthSwitch builds Ethiopia’s national digital payments infrastructure, reaching one million EthioPay-IPS transactions in a single day marks a significant milestone for the country’s payments ecosystem. It demonstrates the tangible value of interoperable instant payments for financial institutions, businesses, and citizens alike.”
“Receiving The Asian Banker’s ‘Best Financial Inclusion Technology Initiative in Africa for 2026’ award makes this achievement even more meaningful and reinforces our shared commitment to advancing inclusive digital finance in Ethiopia.”
The EthioPay-IPS system, powered by BPC’s SmartVista platform, supports account-to-account transfers, wallet payments, QR-based transactions, request-to-pay services and recurring payments.
It also enables interoperable bulk payments, trade payments and real-time settlement between financial institutions and merchants.
Customers can transact using bank accounts, wallets, payment links and QR codes under a unified payment framework.
Dahlak Yigezu, Ethiopia country manager at BPC, told Impact Newswire the system is helping scale digital payments infrastructure.
“As the national switch enables resilient, future-ready infrastructure, we are proud to stand with EthSwitch as Ethiopia’s payments ecosystem continues to scale and achieve impactful milestones.”
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Faustine Ngila is the AI Editor at Impact Newswire, based in Nairobi, Kenya. He is an award-winning journalist specializing in artificial intelligence, blockchain, and emerging technologies.
He previously worked as a global technology reporter at Quartz in New York and Digital Frontier in London, where he covered innovation, startups, and the global digital economy.
With years of experience reporting on cutting-edge technologies, Faustine focuses on AI developments, industry trends, and the impact of technology on society.
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