Arifpay Financial Technologies, the first private payment system operator in Ethiopia, has announced its integration with EthSwitch, the national switch operator, in a move that is set to transform the Ethiopian fintech ecosystem. The joint press conference held recently, highlighted the numerous benefits that this integration would bring to customers, merchants, and banks alike. These benefits include increased financial inclusion, improved payment efficiency, enhanced interconnectivity, support for small businesses, and increased job opportunities.
Some of the concrete significance of this integration for Arifpay and the Ethiopian fintech ecosystem are:
Yilebes Addis, CEO of EthSwitch, emphasized the company’s commitment to promoting financial inclusion and digital payments in Ethiopia through the integration of Arifpay with EthSwitch. Bernard Laurendeau, CEO of Arifpay, highlighted the introduction of interoperable ArifPOS Smart devices, which will give consumers more payment options beyond debit cards.
Arifpay’s entry into EthSwitch’s national payment ecosystem is a significant milestone, as it paves the way for other private payment startups to integrate with the national payment infrastructure and drive the growth of the Ethiopian economy. Arifpay’s payment solutions for smartphone, POS, and quick response have been gaining popularity since the company received a commercial license from the National Bank of Ethiopia to commence POS operation and payment gateway services.
Source Afrikan Heroes