EthSwitch launches EthioPay-IPS nationwide instant payment network to unify banks, wallets, and merchants
ADDIS ABABA, Ethiopia – February 15, 2026 – EthSwitch, Ethiopia’s national switch owned by public and private banks and the National Bank of Ethiopia, announced the launch of EthioPay-IPS, the National Instant Payment System, to enable real-time interoperable digital transactions nationwide. The platform connects 32 banks, 12 microfinance institutions, three payment service operators, and three payment instrument issuers. The system was unveiled in December 2025 at the Ethiopia Digital Payment Conference 2.0.
Overview
Powered by BPC’s SmartVista platform, EthioPay-IPS supports real-time account-to-account and wallet-to-wallet transfers, ETHQR payments, alias-based payments, recurring payments, and domestic interoperability. The platform offers card-switch hosting, centralized reconciliation, interoperable QR payments, payment requests, bulk payments, a merchant portal, and settlement capabilities for utilities, taxes, and government fees.
Announcement Specifics
Powered by BPC’s SmartVista platform, EthioPay-IPS supports real-time account-to-account and wallet-to-wallet transfers, ETHQR payments, alias-based payments, recurring payments, and domestic interoperability. The platform offers card-switch hosting, centralized reconciliation, interoperable QR payments, payment requests, bulk payments, a merchant portal, and settlement capabilities for utilities, taxes, and government fees.
Stakeholder Perspective:
“Our goal is to provide simple, affordable, secure and efficient digital payment infrastructure to every retail payment provider and through them, to every Ethiopian.”
— Abenezer Wondwossen, Chief Portfolio Officer at EthSwitch
Why it matters: This statement underscores the system’s aim to democratize access amid Ethiopia’s digital payment surge, where person-to-person transactions tripled to 128 million in 2024/25.
“With SmartVista, we have built an interoperable nation-wide ecosystem for instant payments that is locally governed, future-ready and open to innovation.”
— Abenezer Wondwossen, Chief Portfolio Officer at EthSwitch
Why it matters: The emphasis on local governance and scalability addresses Ethiopia’s unique needs while meeting global standards.
Industry Context
Ethiopia’s digital payments are accelerating, with ATM transactions hitting 120 million and POS nearing three million last year. The launch aligns with the National Digital Payment Strategy 2026-2030, fostering interoperability in a market dominated by banks and emerging wallets. In East Africa, this positions Ethiopia as a fintech leader, potentially inspiring neighbors like Kenya and Nigeria to enhance cross-border links while boosting financial inclusion for underserved populations and reducing cash reliance.
Conclusion
EthioPay-IPS sets the stage for surged transaction volumes and innovation, driving Ethiopia’s cashless economy forward. Industry observers anticipate rapid adoption as merchants and users integrate the unified platform.
Sources: Fintech News, MEXC, Stock Market Ethiopia, 2Merkato, Capital Ethiopia
