EthSwitch launched the EthioPay Instant Payment System today at the second Ethiopian Digital Payment Conference, establishing a national real-time payment rail to modernise the country’s digital payments infrastructure. The platform connects banks, microfinance institutions, mobile money operators, and fintech firms, enabling instant transfers between any participating customers.
The conference was attended by Deputy Prime Minister Temesgen Tiruneh, National Bank of Ethiopia governor Eyob Tekalign (PhD), Minister of Planning and Development Fitsum Assefa (PhD), the secretary general of the African Continental Free Trade Area, and senior officials from government and private institutions.
EthioPay operates alongside Ethiopia’s domestic card scheme, introduced in 2016, and links all banks connected to the national switch. The system is built on international messaging standards such as ISO 20022 and is designed to support multiple use cases, including person-to-person transfers, merchant payments, government disbursements, and bill payments.
EthioPay sets out procedures for routing payment authorisations and settlement instructions for point-of-sale and e-commerce transactions. It also governs ATM withdrawals and purchases with cashback, providing a consistent processing framework across Ethiopia’s banking sector.