M-PESA Ethiopia has reached a major milestone by completing its integration with EthSwitch, the country’s national payment network, marking a transformative step in the evolution of Ethiopia’s digital payments ecosystem. This development expands M-PESA’s capabilities beyond mobile wallet transactions, enabling customers to directly transfer funds from their M-PESA wallets to any bank account connected to EthSwitch, further promoting seamless and inclusive financial access across the nation.
Through this integration, users can now send and receive money across platforms with ease, making it possible for individuals using traditional banks to transact with M-PESA users without barriers. Additionally, customers can make payments to merchants via bank-issued EthQR codes, while those without M-PESA accounts can still send money or pay for goods and services using their mobile banking applications by simply scanning M-PESA QR codes. This feature reinforces interoperability, ensuring that cross-platform financial transactions are fast, secure, and compliant with national financial standards.
The service is supported by EthSwitch’s real-time national infrastructure, which guarantees high levels of security, transaction reliability, and adherence to regulatory requirements. It is accessible via the M-PESA app as well as the mobile banking apps of 15 participating banks, including major financial institutions such as the Commercial Bank of Ethiopia, Amhara Bank, Awash Bank, Bunna Bank, Enat Bank, and the Cooperative Bank of Oromia. Customers will now see M-PESA listed as a payment and transfer option, making it easier than ever to move money across platforms.
This strategic integration reinforces M-PESA’s role as a key driver of digital and financial inclusion, leveraging technology to bring unbanked and underbanked populations into the formal financial system. It also greatly enhances merchant payments interoperability, supporting Ethiopia’s growing digital economy by allowing businesses to transact using a unified network. This advancement represents a significant step toward building a fully interoperable financial ecosystem in Ethiopia.
By achieving this milestone shortly after surpassing 10 million customers, M-PESA Ethiopia continues its mission to expand financial accessibility, empower individuals, and support economic growth through innovation. This collaboration with EthSwitch sets the foundation for a future where seamless, real-time digital transactions are the norm for every Ethiopian citizen.
