Today marked a significant advancement in Ethiopia’s digital payment sector with the inauguration of the National Payment Gateway (NPG), developed by EthSwitch.
The launch event, held in Addis Ababa, was attended by EthSwitch CEO Yilebes Addis, who introduced the NPG platform. This new development promises to transform the processing of online transactions nationwide.
At the event, Solomon Desta, Vice President of the National Bank, praised EthSwitch for their groundbreaking work. He emphasized the NPG’s role in fostering digital financial inclusion by linking consumers, businesses, and financial institutions together.
The NPG serves as a centralized digital platform, facilitating connections between merchants and various financial entities. It offers a secure interface for acquiring banks, microfinance institutions, and payment service providers to handle online transactions.
This gateway enables partner entities to provide their customers with efficient and easy payment methods for e-commerce and mobile money transactions.
The NPG ensures real-time verification of customer identities and payment details while confirming the availability of funds. This is a key step in expanding digital trade and commerce throughout Ethiopia.
Merchants will now be able to accept a range of online payments including card, wallet, and other electronic payment forms through their banks or FINTECH providers connected to the gateway. EthSwitch’s plan is to integrate all major financial players into the NPG in the upcoming months.
