Ethiopia’s national payment switch, EthSwitch, has recorded a landmark milestone after its EthioPay-IPS platform surpassed one million transactions in a single day, with total value exceeding ETB 5 billion.
The achievement comes alongside international recognition, with EthSwitch and technology partner BPC receiving The Asian Banker’s “Best Financial Inclusion Technology Initiative in Africa for 2026” award.
The milestone marks a significant leap in the adoption of interoperable instant payments across Ethiopia and underscores progress in building a resilient national payments ecosystem.
“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,” said Yilebes Addis, CEO of EthSwitch.
EthioPay-IPS runs on the BPC SmartVista platform, delivering payment infrastructure that enables account-to-account and wallet-to-wallet transfers, interoperable QR payments, request-to-pay services, e-mandates, alias-based payments, and bulk and trade payments. The platform also supports payments for utilities, taxes, and government services within a single interoperable system.
“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,” said The Asian Banker’s research team.
The Asian Banker award recognises the platform’s broader impact as a model for how national payment systems can expand access, improve efficiency, and accelerate digital economic growth across Africa. For Ethiopia, it signals meaningful progress in building a modern, inclusive, and locally governed financial ecosystem.
Dahlak Yigezu, Ethiopia Country Manager at BPC, said the firm was proud to stand with EthSwitch as Ethiopia’s payments ecosystem continues to scale. EthSwitch is a share company owned by the National Bank of Ethiopia, alongside public and private banks, microfinance institutions, and payment service operators. Development partners including the Bill and Melinda Gates Foundation, ADFI, and AfricaNenda have also supported the initiative.
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