All banks operating in Ethiopia are going to have a national payment system that grants them an integrated system of automated teller machines (ATM).
The newly to be launched system is said to enable customers access ATM service from any bank.
A company, Etswitch S.C., is set up by Ethiopian banks in order to network and administer the operation.
Bizuneh Bekele, CEO of Etswitch, noted preparations to start the networking task are being carried out. ON the other hand, preparing software to link the payment system of the banks has been concluded.
He added, the system will go online as a final deal is signed with the banks.
Commenting on this, Bruk Alemu, banker and economist, said the move will add customer satisfaction. He added, it will enhance the circulation of money whereby positively impacting the country’s economy.
Etswitch S.C was established with a capital of 80 Million Birr and it is expected to go operational in the coming month.