EthSwitch, Ethiopia’s national payment switch, a share company owned by the National Bank of Ethiopia, public and private banks, MFIs, PIIs and PSOs, has reached a major milestone as EthioPay-IPS surpasses 1 million in a single day transactions, with total a value exceeding ETB 5 billion.
This achievement represents a significant leap forward in advancing interoperable instant payments in Ethiopia. It comes alongside international recognition, with EthSwitch and BPC receiving The Asian Banker’s prestigious “Best Financial Inclusion Technology Initiative in Africa for 2026” award.
The milestone reflects the rapid adoption of interoperable digital payments across Ethiopia and underscores the progress made through EthioPay-IPS in strengthening the national payments ecosystem. It also highlights the importance of sustained collaboration, technical excellence, and long-term commitment in building resilient and inclusive national payment infrastructure.
“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.
The recognition from The Asian Banker further reinforces EthSwitch’s role as a key driver of financial inclusion in Africa. Beyond scale and performance, the award recognizes the platform’s broader impact as a model for how national payment systems can expand access, improve efficiency, and accelerate digital economic growth. For Ethiopia, it signals meaningful progress in building a modern, inclusive, and locally governed financial ecosystem.
Yilebes Addis, CEO of EthSwitch, said, “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. We sincerely thank BPC for their continued partnership and commitment to strengthening this critical national infrastructure. In addition, we would like to thank our development partners; BMGF, ADFI, and AfricaNenda for their unreserved support. 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.”
Powered by the BPC SmartVista platform, EthioPay-IPS delivers modern payment rails that enable financial institutions to offer faster, more affordable, and more accessible services. These include account-to-account, wallet-to-wallet transfers, ETHQR, RtP, alias-based payments, and recurring payments strengthening interoperability across the financial ecosystem.
The platform enables real-time transfers, interoperable QR payments nationwide, request-to-pay services, e-mandates, and interoperable bulk and trade payments. It also supports secure online and in-app commerce by connecting financial institutions, businesses, and payment networks with immediate and reliable settlement.
Customers benefit from a unified payment experience, allowing them to transact using cards with strong authentication, dynamic QR codes, bank accounts, wallets, and payment links. The platform also facilitates payments for utilities, taxes, and government services within a single interoperable system.
Dahlak Yigezu, Ethiopia Country Manager at BPC, said, “We are proud to celebrate this milestone alongside EthSwitch and honored to share recognition through The Asian Banker award. 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.”