cbe

USD
53.0886
54.1504
,
GBP
62.1019
63.3439
,
EUR
55.9076
57.0258
,
CHF
54.1489
55.2319
,
SEK
4.6487
4.7417
,
NOK
4.9112
5.0094
,
DKK
6.8036
6.9397
,
DJF
0.2949
0.3008
,
JPY
0.355
0.3621
,
CAD
35.7798
36.4954
,
SAR
12.7797
13.0353
,
AED
13.0803
13.3419
,
XAF
0.012
0.0122
,
INR
,
KES
,
AUD
32.6996
33.3536
,
SDR
,
ZAR
,
CNY
6.9042
7.0423
,
KWD
165.1794
168.483

awash

USD
53.0886
54.1504
,
EUR
55.9076
57.0258
,
GBP
65.0282
66.3288
,
CAD
39.5357
40.3264
,
AED
14.4534
14.7425
,
CHF
56.7004
57.8344

abyssinia

USD
52.8333
53.89
,
GBP
57.1462
58.2891
,
EUR
52.0831
53.1248
,
AED
13.0173
13.2776
,
NOK
4.525
4.6155
,
SAR
12.7148
12.9691
,
SEK
4.287
4.3727
,
CAD
34.7916
35.4874

abay

USD
53.0886
54.1504
,
EUR
55.9076
57.0258
,
GBP
65.0282
66.3288
,
CHF
56.7004
57.8344
,
AUD
36.1321
36.8547
,
AED
14.4534
14.7425
,
CNY
7.629
7.7816
,
DKK
7.5178
7.6682
,
DJF
0.2949
0.3008
,
INR
0.6485
0.6615
,
JPY
0.3922
0.4
,
KES
0.4
0.4409
,
NOK
5.4267
5.5352
,
SAR
14.1212
3.1433
,
ZAR
3.0817
3.1277
,
SEK
5.1367
5.2394
,
SDR
70.5229
71.9334

zemen

CAD
39.5064
40.2965
,
EUR
55.332
56.4386
,
GBP
64.4691
65.7585
,
SEK
5.0667
5.168
,
USD
53.061
54.1222

buna

nib

berhan

wegagen

USD
53.0774
54.1389
,
GBP
62.1396
63.3824
,
EURO
55.8693
56.9867
,
CAD
35.7404
36.4552
,
AUD
32.7503
33.4053
,
CHF
53.6594
54.7326
,
SEK
4.5906
4.6824
,
NOK
4.8276
4.9242
,
DKK
6.7205
6.8549
,
DJF
0.2947
0.3006
,
INR
0.6494
0.6624
,
KSH
0.433
0.4417
,
JPY
0.3471
0.354
,
SAR
12.7667
13.022
,
AED
13.0617
13.3229
,
ZAR
3.1723
3.2357
,
CNY
6.7196
6.854
,
KWD
164.7021
167.9961

dgb

USD
53.0886
54.1504
,
GBP
65.0282
66.3288
,
EUR
55.9076
57.0258
,
CHF
56.7004
57.8344
,
CAD
39.5357
40.3264
,
AUD
36.1321
36.8547
,
SEK
5.1367
5.2394
,
NOK
5.4267
5.5352
,
DKK
7.5178
7.6682
,
DJF
0.2949
0.3008
,
INR
0.6485
0.6615
,
KSH
0.4323
0.4409
,
JPY
0.3922
0.4
,
SAR
14.1212
14.4036
,
AED
14.4534
14.7425
,
ZAR
3.0817
3.1433
,
CNY
7.629
7.7816
,
KWD
172.9627
176.422

enat

USD
53.0886
54.1504
,
GBP
62.1019
63.3439
,
CHF
0
0
,
SEK
0
0
,
NOK
0
0
,
DKK
0
0
,
KES
0
0
,
JPY
0
0
,
DJF
0
0
,
CAD
0
0
,
AUD
0
0
,
SAR
0
0
,
AED
0
0
,
ZAR
0
0
,
CNY
0
0

addis

GBP
59.4718
60.6612
,
USD
52.1166
53.1589

nbe

KWD
126.8085
129.34467
,
CNH
5.6258
5.738316
,
ZAR
2.6751
2.728602
,
AED
9.9063
10.104426
,
SDR
57.7908
58.946616
,
EUR
48.4016
49.369632
,
CAD
28.7765
29.35203
,
AUD
28.3265
28.89303
,
JPY
0.3389
0.345678
,
SAR
9.7001
9.894102
,
INR
0.5525
0.56355
,
DJF
0.2234
0.227868
,
KES
0.3664
0.373728
,
DKK
5.8896
6.007392
,
NOK
4.2714
4.356828
,
SEK
4.3114
4.397628
,
CHF
41.5822
42.413844
,
GBP
53.539
54.60978

dashen

USD
53.0886
54.1504
,
GBP
62.1019
63.3439
,
CHF
54.1489
55.2319
,
SEK
4.6487
4.7417
,
NOK
4.9112
5.0094
,
DKK
6.8036
6.9397
,
JPY
0.355
0.3621
,
CAD
35.7798
36.4954
,
SAR
12.7797
13.0353
,
AED
13.0803
13.3419
,
EUR
55.9076
57.0258
,
DJF
,
INR
,
KES
,
AUD
,
ZAR
,
CNY

oromia

USD
53.0886
54.1504
,
EUR
55.9076
57.0258
,
GBP
65.0282
66.3288
,
SAR
14.1212
14.4036
,
CHF
56.7004
57.8344
,
AED
14.4534
14.7425

lion

USD
53.0886
54.1504
,
GBP
65.0282
66.3288
,
EUR
55.9076
57.0258

coop

Chapa: Revolutionizing Digital Payment in Ethiopia Since Launch in 2022

Logo of Chapa Financial Technologies S.C.

Addis Ababa, Ethiopia ( 17 August 2022)
Chapa Financial Technologies S.C is an Ethiopian financial service and data engineering startup that was established in the capital of Ethiopia, Addis Ababa.
Literally meaning “money” in the Ethiopian youth slang, Chapa was founded in 2020 to empower small businesses and large merchants by smoothening the process of financial transactions. The strongest drive behind this company, as per its official website, is finding solutions to inconvenient payment methods that plague the increase in global trade, especially in developing countries.

Ethiopia’s digital economy has long been constrained by a poor financial institution
interoperability, cash-based online transactions, a dearth of functional digital payment gateways, and a small selection of fintech products.
In 2020, when the National Bank of Ethiopia opened the fintech field for digital companies, Chapa was created with the goal of filling these gaps. The business acquired its Payment Gateway license from the National Bank of Ethiopia (NBE) in May 2022 and has already begun enrolling merchants. It is not without competition, however, as it is the third payment gateway company to receive a license following ArifPay and SunPay.

Before introducing its payment gateway service this month, Chap had carried out a few notable projects that had far-reaching impacts. The first of this initiative was MyGerd.com launched last year, which helped in raising USD 300 thousand for the Great Ethiopian Renaissance Dam (GERD) by partnering with Ethiopian Electric Power (EEP), Flutterwave, and Zemen Bank.

The second more impressive feat accomplished in November 2021 was when Chapa developed Eyezon, raising over USD 6 million for internally displaced Ethiopians and conflict-damaged health facilities, partnering with the Ethiopian Diaspora Agency (EDA) and the Commercial Bank of Ethiopia (CBE).
In a recently published report by Pragma Investment Advisory, Eyezon
was one of the significant reasons remittances contributed 23% to forex inflow in Ethiopia in 2021-22. In addition, just two months ago, Chapa formed a partnership with Mila-Quebec Artificial Intelligence Institute, the world’s largest deep learning institute, enabling it to further research within the AI and machine learning world and allowing financial inclusion for SMEs and businesses.
Mila-Quebec Artificial Intelligence Institute

Leaning on these successful ventures to kickstart further endeavors, Chapa officially launched its long-awaited payment gateway service on August 17, 2022, allowing its customers to process payments from both local and international options. With the introduction of this program, Chapa opened doors for Ethiopian businesses to accept payments from 4.5 billion people worldwide.
Fintech currently offers 10 local payment options and 8 international ones. The
former constitutes Debit Card/ATM cards of Bank of Abyssinia, Awash International Bank, Addis International Bank, Hibert Bank, Cooperative Bank of Oromia, Berhan Bank, and NiB International Bank, while the latter includes JCB, Visa, PayPal, Discover, UnionPay MasterCard, Diners Club, and American Express.

Three other mobile payment systems, Telebirr, CBE Birr, and Awash Birr, have also been
integrated. In addition to providing payment solutions, Chapa also gives its clients metrics, data, and analytics to assist them in understanding their business operations and making data-driven decisions.
 
Businesses must first pass KYC checks, supply information about their operations such as TINs, business licenses, addresses, and contact details, and then be accepted before becoming Chapa customers. Merchants will be charged 3.5% for domestic transactions and 1% for international transactions, with discounts offered based on transaction volume. Payment is automatically placed into the merchant’s account within 24 hours.
According to reports, integrating this payment network is as simple as adding six lines of code to the websites or apps of merchant companies. Even so, Chap goes one step further by training programmers who can help companies with the integration process.

By 2025, Chapa hopes to empower and link 100,000 entrepreneurs and enterprises to the global economy. The company is particularly interested in the African market and is working to broaden its presence in various parts of the continent.