Ethiopia is ushering in a new era of digital financial transactions with the launch of EthSwitch's National Instant Payment System, powered by the cutting-edge SmartVista platform from BPC. This significant development was announced during the Ethiopia Digital Payment Conference 2.0, held in December 2025, and was inaugurated by H.E. Dr. Eyob Tekalign, Governor of the National Bank of Ethiopia, and H.E. Temesgen Tiruneh, Deputy Prime Minister.
"Our goal is to provide simple, affordable, secure and efficient digital payment infrastructure to every retail payment provider and through them, to every Ethiopian," stated Abeneazer Wondwossen, Chief Portfolio Officer at EthSwitch.
The system enhances Ethiopia's financial ecosystem by connecting 32 banks, 12 microfinance institutions, three payment service providers, and three payment initiation institutions. With the introduction of EthioPay-IPS, EthSwitch aims to modernize payment processes, allowing financial institutions to facilitate rapid account-to-account and wallet-to-wallet transfers, as well as simplified payments through various identifiers.
Wondwossen added, "With SmartVista, we have built an interoperable nation-wide ecosystem for instant payments that is locally governed, future-ready and open to innovation. This launch is a point of pride for Ethiopia and a milestone for our financial sector."
BPC's SmartVista platform was selected by EthSwitch to provide a robust foundation that addresses both international certification standards and local market requirements. The features of EthioPay-IPS empower member institutions to conduct instant real-time transfers, apply interoperable QR codes across the nation, and manage recurring payments through clear consumer consent protocols.
As part of this transformation, companies are equipped to handle transactions that encompass everything from utility payments to government fees, all through a unified platform. EthSwitch has reported a remarkable increase in digital payment adoption, revealing that person-to-person transactions surged over threefold in volume during the 2024/2025 year, reaching a staggering 128 million operations. Additionally, ATM transactions hit 120 million, while point-of-sale transactions approached three million.
"EthSwitch’s project shows what is possible when a country commits to one modern, scalable platform," remarked Andrey Maiorov, Head of Account Management - MEA at BPC. "SmartVista is unlimitedly scalable and is designed to establish and run truly national ecosystems connecting as many members as there are with the speed and resilience a digital economy of new age requires.”
With the launch of the EthioPay Instant Payment System, EthSwitch and its network of member institutions are set to expand innovative payment services and merchant acceptance across the nation. The initiative not only brings faster payment solutions but also enhances access and security for businesses and local communities in Ethiopia.
Stakeholders are optimistic that these advancements will significantly enhance the nation's digital economy, as EthSwitch continues to monitor all member transactions through a centralized real-time system without interrupting existing connections.
In conclusion, the successful rollout of Ethiopia’s National Instant Payment System marks a pivotal moment in the country's digital financial landscape and underscores EthSwitch's commitment to fostering financial inclusion. These innovative services can fundamentally reshape how the Ethiopian population engages with their finances, promising a digital future that is accessible to all.