EthSwitch (Ethiopia) introduced the SmartVista family of products to build Ethiopia's single payment space by BPC Bank Technologies

EthSwitch was created with the support of the Association of Ethiopian Banks and the Central Bank with the aim of forming a unified system for authorizing and routing transaction flows, as well as the interaction of all banks in the country. As a result of cooperation between EthSwitch and BPC, a new system will be developed, thanks to which residents of the country will be able to freely use ATMs and POS terminals, mobile and Internet banks of any financial organization in the country, regardless of which of the local banks is the card issuer and serves accounts, BPC said.

Choice of solution

The decision in favor of BPC solutions was made on the basis of full compliance of the system with the customer's requirements for functionality and modern technologies.

Tasks

The main objective of the new national system is to bring interbank interaction to a new level by providing access to new banking products and services to the population and trade and service enterprises of Ethiopia. Moreover, the goal of the joint project of EthSwitch and BPC is a high-quality modernization of the existing financial environment, as well as a decrease in the volume of cash use.

In addition, the BPC will provide technological interaction with international payment systems such as Visa and MasterCard, which will expand the use of card products of these companies in Ethiopia. At the same time, SmartVista will be connected to the real-time settlement system and the RTGS/ACH clearing system, which will contribute to the transparency of the operations.

"Our goal is to standardize and simplify interbank interaction in the field of retail payments, to ensure the reliability and transparency of all transactions. Following a thorough study of all systems on the market, we opted for the SmartVista family of products - the only solution that meets all our requirements, "said Bizuneh Bekele, CEO of EthSwitch S.C. - This is a single solution that combines all the necessary competencies without deferred hidden costs. EthSwitch is ready for a complete update of Ethiopia's payment system and is confident that the experience of 'BPC Bank Technologies' will help us achieve our goals. "

"BOC is pleased with the opportunity to implement a project so important for Ethiopia's national economy. We have extensive experience in such projects around the world and are convinced that thanks to SmartVista, EthSwitch will receive an innovative single payment platform, "said Daryl Berg, Managing Director of BPC Bank Technologies in Africa. "The flexible and scalable architecture of our solutions makes it possible not only to offer customers a wide range of products and services, but also to help you confidently develop your business in the future."