Ethiopia's digital payment landscape received a major boost today with the launch of the National Payment Gateway (NPG) by EthSwitch.
At an event held in Addis Ababa in the presence of its CEO Yilebes Addis, EthSwitch unveiled its newly developed NPG platform, which is set to revolutionize how online transactions are processed across the country.
Speaking at the launch, National Bank VP Solomon Desta congratulated EthSwitch on the innovative solution. He highlighted the NPG's importance in driving digital financial inclusion by connecting consumers, businesses and financial institutions.
The National Payment Gateway acts as a centralized digital hub that connects merchants to multiple financial institutions. It provides acquiring banks, microfinance companies, and payment service providers with an interface to process online transactions securely.
Through the NPG, partner organizations can offer customers fast and convenient payment options when making e-commerce and mobile money payments.
The system validates customer identities and payment details in real-time while ensuring funds availability. This will unlock opportunities for digital trade and commerce across Ethiopia.
Merchants can accept online card, wallet and other e-payment types through their bank or FINTECH provider's linkage to the gateway. EthSwitch aims to onboard all major financial players onto the NPG over the coming months.
