EthSwitch, Ethiopia’s national switch operator, has launched EthioPay, an interoperable instant payment system designed to modernize the country’s digital payments infrastructure.

EthioPay replaces the Real Time Gross Settlement system, which had long been criticised for delays that constrained liquidity across the banking sector. The new system enables same-day settlement for interbank transfers and introduces structured channels for merchant transactions, bulk payments, customer-to-government transfers, request-to-pay functions, and QR-based payments. It also provides interoperable dashboards for merchants and expanded capabilities for e-commerce platforms.

Yelebes Addis, chief executive of EthSwitch, described the launch as a “turning point” for Ethiopia’s payment ecosystem. He said the platform is intended to reduce transaction costs, enhance service quality, and accommodate the anticipated growth of financial services in Ethiopia.

Solomon Desta, board member of EthSwitch and vice governor of the central bank, emphasised that EthioPay consolidates payment services from multiple financial institutions under a single, secure digital brand. The system allows banks to integrate their services quickly while providing customers with a seamless interface for accessing multiple payment solutions.

Designed with scalability in mind, EthioPay aims to improve financial inclusion and provide a reliable foundation for Ethiopia’s emerging digital economy, bridging gaps in access and efficiency within the country’s financial infrastructure.