BPC Banking Technologies, a provider of open system payment solutions, has announced that EthSwitch has chosen SmartVista to power its national switching operations in Ethiopia.
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EthSwitch was established by all the banks in Ethiopia, and with the support of the Ethiopian Bankers’ Association and the National Bank of Ethiopia.
EthSwitch aims to connect all banks to a central transaction switching platform that will provide customers with access to their money and other financial services via any ATM, point of sale (POS) device, mobile and Internet channels, regardless of which bank issued their card or in which bank their account is kept.
All connected member banks will benefit from interoperability as well as providing a new level of convenience and access to Ethiopian citizens, merchants, and organizations.
When implemented, the new system, powered by SmartVista, is expected to drive the Ethiopian financial ecosystem to new levels of efficiency, availability and accessibility while also significantly reducing the levels of cash usage.
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By GlobalDataBPC will also provide EthSwitch with the ability to interface to International Payments Schemes, such as Visa and MasterCard Worldwide and to enhance local acceptance of these globally branded cards. The SmartVista system will be interfaced to the national Automated Transfer System (comprising ACH and RTGS) to facilitate efficient clearing and settlement of all transactions.
