EthSwitch, Ethiopia’s national payment switch, has recorded more than 1 million EthioPay-IPS transactions in a single day, with the value of transactions exceeding 5 billion birr, in what the company described as a major milestone for the country’s digital payments system.
The achievement comes as EthSwitch and global payment software company BPC received The Asian Banker’s “Best Financial Inclusion Technology Initiative in Africa for 2026” award, recognizing their role in expanding interoperable instant payments and broadening access to digital financial services in Ethiopia.
EthSwitch said the milestone reflects the rapid uptake of interoperable digital payments and the growing use of EthioPay-IPS across the country’s financial ecosystem. The platform is designed to strengthen national payment infrastructure by enabling faster, more affordable and more accessible transactions for banks, microfinance institutions, businesses and consumers.
Yilebes Addis, chief executive officer of EthSwitch, said the 1 million daily transaction mark demonstrates the practical value of interoperable instant payments for financial institutions, businesses and citizens. He said the award from The Asian Banker makes the achievement even more meaningful and reinforces the company’s commitment to advancing inclusive digital finance in Ethiopia.
He also thanked BPC and development partners including BMGF, ADFI and AfricaNenda for their support in building the system.
Powered by BPC’s SmartVista platform, EthioPay-IPS supports account-to-account and wallet-to-wallet transfers, QR payments, request-to-pay services, alias-based payments and recurring payments. The platform also enables real-time transfers, interoperable QR payments, e-mandates, bulk payments and trade-related transactions.
According to the company, the system is helping financial institutions offer payment services that are faster and more secure while improving interoperability across the financial sector. It also supports online and in-app commerce by linking financial institutions, businesses and payment networks with immediate settlement.
Customers can use cards, bank accounts, digital wallets, QR codes and payment links within a single interoperable system, while also making payments for utilities, taxes and government services.
The Asian Banker said the EthSwitch-BPC infrastructure shows how shared technology can reduce fragmentation, broaden access to digital financial services and support more inclusive participation in the formal economy.
Dahlak Yigezu, country manager for Ethiopia at BPC, said the company was proud to celebrate the milestone with EthSwitch and to share in the recognition from The Asian Banker. He said the national switch is helping build resilient, future-ready payments infrastructure as Ethiopia’s digital economy continues to expand.
EthSwitch, which is owned by the National Bank of Ethiopia, public and private banks, microfinance institutions, payment institutions and payment service operators, said its mission is to make payments simple and affordable and its vision is to become Africa’s best-in-class payment network by 2035.
