News Column

Ethiopia : EthSwitch chooses SmartVista solution from BPC Banking Technologies

September 1, 2014

The SmartVista solution has been chosen by Ethiopia's EthSwitch from BPC Banking Technologies, to power its national switching operations in Ethiopia.

All the banks in Ethiopia was formed by EthSwitch, and has the support of the Ethiopian Bankers Association and the National Bank of Ethiopia.

SmartVista would associate all banks to a central transaction switching platform, which would offer customers with access to their money and other financial services through ATM, mobile and Internet channels, and POS devices, regardless of their home bank.

The solution would also enable EthSwitch to interface with international payments schemes, like Visa and MasterCard and enhance local acceptance of these globally branded cards. The system would be associated to the national automated transfer system (comprising ACH and RTGS) to facilitate efficient clearing and settlement of all transactions.

According to Bizuneh Bekele, CEO of EthSwitch S.C, Our goal is to make interbank retail payments processing easier, while increasing security and transparency. We are looking forward to improving Ethiopia s payments landscape and believe that BPC Banking Technologies expertise and experience will help us achieve our goal to build and operate the unifying e-payment platform for all financial institutions in Ethiopia.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: TendersInfo (India)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters