M-Pesa Ethiopia has taken a transformative leap in digital financial services by integrating its mobile money platform with EthSwitch, Ethiopia’s national payment switch. This strategic move enables seamless, real-time interoperability between mobile wallets and bank accounts, allowing users to send and receive money across platforms with unprecedented ease. The integration supports both wallet-to-bank and bank-to-wallet transfers, as well as QR-based merchant payments using EthQR codes, which are now accepted across participating banks and M-Pesa merchants.
The rollout marks a major milestone in Ethiopia’s journey toward financial inclusion and digital transformation. EthSwitch, established by the National Bank of Ethiopia, serves as the backbone of the country’s digital payments infrastructure, ensuring secure, compliant, and instantaneous transaction processing. By connecting M-Pesa to this national network, the platform now empowers millions of users to transact across institutional boundaries, bridging the gap between traditional banking and mobile money services.
M-Pesa has Interoperability with Ethiopian Banks.
Currently, M-Pesa is interoperable with 15 financial institutions, including Commercial Bank of Ethiopia, CBE Birr, Addis International Bank, Amhara Bank, Awash Bank, Bunna Bank, Cooperative Bank of Oromia, Enat Bank, Lion Bank, KAAFI Microfinance, Siinqee Bank, Siket Bank, Tsehay Bank, Wegagen Bank, and Zemen Bank. These banks have added M-Pesa to their transfer options, enabling their customers to initiate transactions directly from their mobile banking apps. Additional institutions are expected to join the network in the coming weeks, further expanding the reach of interoperable digital payments.
Elsa Muzzolini, CEO of M-Pesa Ethiopia, described the integration as “a significant step toward a more connected and inclusive financial system.” She emphasized that interoperability “empowers customers to move money freely between banks and mobile wallets—securely, instantly, and conveniently.” This development aligns with Ethiopia’s Digital Ethiopia 2025 strategy, which aims to modernize the economy through digital innovation and expand access to financial services, especially in underserved regions.
The integration also comes at a time when M-Pesa Ethiopia has surpassed 10 million registered users, reflecting strong demand for mobile financial services. With smartphone penetration rising and digital literacy improving, the EthSwitch connection is expected to accelerate the adoption and usage of mobile money, particularly among rural and low-income populations. By enabling cross-platform payments and transfers, M-Pesa and EthSwitch are laying the foundation for a more inclusive, efficient, and resilient financial ecosystem in Ethiopia.
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