Ethiopia’s digital payments landscape has reached a significant turning point with the licensing of Arifpay Financial Technologies S.C. as the country’s first private switch operator. The National Bank of Ethiopia (NBE) granted the approval in line with the government’s National Digital Payments Strategy 2030, which aims to modernize financial services and increase nationwide access. The milestone reflects Ethiopia’s commitment to building a more inclusive and innovation-driven financial ecosystem.
Expanding the Reach of Digital Transactions
As a licensed private switch operator, Arifpay will facilitate real-time transactions across diverse financial players, including banks, microfinance institutions, savings and credit cooperatives (SACCOs), mobile wallets, and insurance companies. By creating a unified infrastructure, the company will help businesses streamline bulk payments such as payroll, supplier transfers, and large-scale disbursements. The platform will also centralize merchant acquiring, enabling businesses to accept payments from multiple channels through a single integrated system.
Broadening Product and Service Offerings
Beyond switching capabilities, Arifpay is developing a range of digital products designed to strengthen Ethiopia’s payments sector. Its solutions will include credit scoring tools for both merchants and consumers, super apps that bring together multiple mobile banking services, and upgraded remittance platforms to facilitate faster and more reliable cross-border transactions. The company’s flagship offerings already cover point-of-sale systems, interoperable QR payment services, a digital gateway for e-commerce, and Arif Billers, which aggregates government and private bill payments.
Focus on Financial Inclusion
One of Arifpay’s key initiatives is the upcoming launch of its Super Agent Platform, a tool designed to consolidate agent networks into a single application. By streamlining agent operations, the company hopes to accelerate the adoption of digital finance solutions in rural and underserved communities. This effort directly supports Ethiopia’s 2030 inclusion targets, which emphasize extending financial access to traditionally excluded populations.
Building the Infrastructure for Growth
Arifpay’s payment switch is built to handle high volumes of transactions securely and efficiently, ensuring instant settlements for participants in the ecosystem. The infrastructure will serve as the backbone for emerging financial technologies, opening opportunities for fintech startups, established merchants, and government services to innovate on top of the system. By strengthening the foundation of digital payments, the company aims to contribute to broader economic development while advancing Ethiopia’s digital economy strategy.
Implications for Ethiopia’s Financial Ecosystem
The licensing of Arifpay comes at a time when Ethiopia is actively modernizing its financial services sector to encourage private sector participation. The introduction of a private switch operator diversifies the market and enhances competition, creating room for greater innovation. It also provides local fintech players with the infrastructure needed to launch new services that align with the government’s broader economic transformation goals.
Arifpay’s recognition as Ethiopia’s first licensed private switch operator represents more than just a regulatory milestone; it signals a step forward in the country’s journey toward financial modernization. With its comprehensive offerings, from merchant acquiring to agent platforms and remittance solutions, the company is positioned to play a central role in achieving Ethiopia’s National Digital Payments Strategy 2030. As adoption spreads, the initiative is expected to boost financial inclusion, support fintech growth, and strengthen Ethiopia’s integration into the global digital economy.