Arifpay; The Ethiopia’s New Digital Payment Gateway in 2023
Arifpay, Ethiopia’s 1st digital payment gateway, is a bank-led model that offers payment gateway solutions for processing school fees, airtime top-up eCommerce transactions, and other types of payments.
When Arifpay originally launched, given how quickly the nation is developing, the number of bank users is unexpectedly low. Therefore, Arifpay set out to raise the number of accounts by encouraging banks to participate more in the digital payment system, and assisting the nation’s transition to middle-income status. As a result, Arifpay is now a key player in Ethiopia’s revolution in digital payments.
Backstory of Arifpay
Arifpay launched its business venture in 2017. Angel investors gambled and invested in it the following year. It began developing its prototype and determining its market fit in 2019. It then continued to perfect its work until 2020, when it also began advocating for new laws and regulations. Arfipay was finally established as a shared corporation in March 2021.
It received two licenses from the National Bank of Ethiopia in November 2021 to become the country’s first payment service provider. In the same year, it received its commercialization letter from the National Bank of Ethiopia.
Arifpay’s products include; Arif POS and Arif M-POS.
Arif POS is Ethiopia’s first POC. Any form of card can be processed by this payment system operator. In other terms, it is a tool used to process retail customer transactions. You can use it to pay all of your bills.
Arif POS is wireless with a portable option that can move around easily, and print out receipts or it can send them by SMS or email. Note that, once a receipt is printed out, it can be printed again but with a duplicate mark.
Arif POS’s Features
|Automatic Settlement||If the merchant forgets to settle at the end of the day, Arif POS can automatically settle daily transactions at a defined time|
POS integrated with inventory management
|Businesses can combine their inventory management system with their point of sale.|
Embedded e-receipt and e-invoicing system
|This is in line with Ethiopia’s DigitalPayments Strategy.|
|Customers’ data will be captured, managed, and analyzed via built-in tools for merchants to get business insight.|
POS Analytics and Reporting
With Arif POS’s real-time data, customer insight, and robust reporting, retailers can monitor their business from any location at any time and make better business decisions.
|Terminal Management System||Arifpay will give businesses a centralized dashboard from which they can track the efficiency and performance of all linked Arif POS devices, no matter where they are.|
Arif POS makes use of cloud based POS system with AI and enables you to transfer any data from your external memory card to your PC.
Arif M-POS is the mobile verison of Arif POS. It helps businesses to accept card payments from their mobile phones and tablets. You can keep track of every transaction with M-POS.
Arif Smart and Mobile POS Features
- Print and electronic receipt
- Built-in camera
- Print and electronic receipt-
- Bluetooth card reader-
- Supports Near Field Communication (NFC)-
- Both the keypad and touchscreen-
- Accepts all standard ATM cards-
- Works on all bank cards-
- 3rd party integrations
Arifpay offers internship, volunteer, and graduate programs for anyone interested in working with the company or who wants to learn more about digital payments.
Arifpay Internships, volunteering, and graduate programs
Aritpay has an Arifinternship, Arifvolunteering, and Arifgraduate programs for software graduates, information system graduates, or related fields that are interested in financial technologies.
ArifVolunteering Program is open to anyone that fulfills the given criteria. To join the volunteering program you have to be interested in digital payment and fintech, you should have good customer service skills, and a recent graduate in marketing or business management. From Arif’s volunteering program you can benefit by getting exposure to the industry and networking.
ArifGraduate Program is open for anyone who graduated in software engineering or information system or related fields and is interested in financial technologies. From Arifpay’s graduate program you can benefit by receiving training, unlimited knowledge transfer, gaining industrial linkage, developing in new areas, and a probability to be hired if needed.
ArifInternship Program is open for anyone who graduated in software engineering or information systems or related fields and is interested in financial technologies. From Arifpay’s internship program you can benefit by receiving training, unlimited knowledge transfer, gaining industrial linkage, developing in new areas, a chance to be hired if needed and you will be certified.