Eth Switch PLC a company that is engaged in IT and Banking sector is set to launch a mobile payment system that integrates all banks. According to Ato Bezuneh Bekelle, CEO of Ethio Switch when the mobile banking payment integration completed in two months it will ease mobile money transfer among different banks.
If the service goes operational, it will allow customers to send, receive and pay money using their mobile phone irrespective of their banks. In the long run, Ethio Switch aims to allow mobile users to pay their utility bills and tax from their mobile phone and this will significantly reduce the amount of resources allocated to process payments.
Ethio Switch was established with the shareholding of all Ethiopian banks and it started by integrating all ATM’s into one system allowing customers to withdraw cash from any ATM. Uniformity in mobile payment processing will also open more opportunities for entrepreneurs who were limited from launching their products due to mobile payment processing issues.