EthioPay-IPS Processes Over 5 Billion Birr in a Single Day, Surpasses One Million Transactions

EthSwitch has announced that its interoperable instant payment platform, EthioPay-IPS, processed more than one million transactions worth over 5 billion birr in a single day, marking a significant milestone for Ethiopia’s rapidly expanding digital payments ecosystem.

The achievement highlights the growing adoption of interoperable payment services across the country as banks, microfinance institutions, businesses, and consumers increasingly embrace digital transactions. It also comes at a time when Ethiopia’s financial sector is accelerating efforts to modernize payment infrastructure and expand access to digital financial services.

The milestone coincides with international recognition for EthSwitch and global payment technology provider BPC, which recently received The Asian Banker’s “Best Financial Inclusion Technology Initiative in Africa for 2026” award. The recognition acknowledges the organizations’ contribution to advancing interoperable instant payments and improving financial inclusion through shared payment infrastructure.

According to EthSwitch, the rapid growth in transaction volumes demonstrates the increasing relevance of instant digital payments in everyday financial activities. The platform was developed to enable seamless transfers between participating financial institutions, helping reduce fragmentation within the payment ecosystem while improving speed, affordability, and accessibility.

Yilebes Addis, Chief Executive Officer of EthSwitch, said reaching one million daily transactions underscores the value that interoperable payment systems are creating for financial institutions, businesses, and citizens. He noted that the international recognition further reinforces the importance of continuing efforts to build a more inclusive and efficient digital financial ecosystem.

Powered by BPC’s SmartVista platform, EthioPay-IPS supports a broad range of payment services, including account-to-account transfers, wallet-to-wallet payments, interoperable QR payments, request-to-pay services, recurring payments, and bulk transactions. The platform also facilitates real-time settlements and supports trade-related transactions across participating institutions.

The system allows customers to transact using bank accounts, payment cards, digital wallets, QR codes, and payment links within a single interoperable network. It also supports payments for utilities, taxes, and government services, contributing to broader digitalization efforts across the economy.

Industry experts view interoperable payment infrastructure as a key component in the development of a modern financial sector. By enabling institutions to connect through a shared platform, payment systems such as EthioPay-IPS can help reduce operational costs, improve customer experience, and encourage wider participation in formal financial services.

The Asian Banker noted that the EthSwitch-BPC initiative demonstrates how shared technology can reduce market fragmentation, strengthen financial inclusion, and create greater access to digital financial services. Such infrastructure is increasingly becoming a cornerstone of digital economies across emerging markets.

Dahlak Yigezu, Country Manager for Ethiopia at BPC, said the company is proud to celebrate both the transaction milestone and the international recognition alongside EthSwitch. He emphasized the role of resilient and future-ready payment infrastructure in supporting Ethiopia’s growing digital economy.

EthSwitch is jointly owned by the National Bank of Ethiopia, commercial banks, microfinance institutions, payment institutions, and payment service operators. The company says its mission is to make payments simple and affordable while pursuing its vision of becoming Africa’s best-in-class payment network by 2035.

As digital banking adoption continues to rise and financial institutions expand their digital offerings, milestones such as this provide further evidence of Ethiopia’s ongoing transition toward a more connected and cash-light economy.

Source: Capital