BPC Banking Technologies, a global provider of open system payment solutions, has been selected by Ethiopia’s EthSwitch to power its national switching operations in Ethiopia. BPC’s SmartVista solution was selected because of its functionality, technology and track record in helping payment businesses worldwide capitalise on opportunities presented by the changing payments landscape.
EthSwitch was formed by all the banks in Ethiopia, and with the backing of the Ethiopian Bankers’ Association and the country’s central bank, the National Bank of Ethiopia. EthSwitch aims to connect all banks to a central transaction switching platform that will provide customers with access to their money and other financial services via any ATM, POS device, mobile and internet channels, regardless of which bank issued their card or in which bank their account is kept.
All connected member banks will benefit from interoperability as well as providing a new level of convenience and access to Ethiopian citizens, merchants, and organisations. BPC will also provide EthSwitch with the ability to interface to international payments schemes, such as Visa and MasterCard and to enhance local acceptance of these globally branded cards. The SmartVista system will be interfaced to the national Automated Transfer System (comprising ACH and RTGS) to facilitate efficient clearing and settlement of all transactions.
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