Addis Ababa, September 6, 2024 (FBC) – Yagout Pay Financial Technology S.C. in partnership with EthSwitch S.C. unveiled a fully automated digital payment service today.
Khalid Mohammed, Founder and CEO of Yagout Pay Fintech, in press conference held today, stated that the technology is seamlessly integrated with EthSwitch so that customers can make payments with Payment cards issued by all banks in Ethiopia through Yagout Pay Point of Sale (POS) terminals.
Khalid mentioned that Yagout Pay features an advanced terminal management system that can be accessed both online and offline.
Khalid explained that “Yagout Pay will contribute to promoting digital financial inclusion and realizing the Digital Ethiopia 2025 strategy.”
YagoutPay has already distributed 1000 POS terminals to selected business centers for operating testing, Khalid indicated, announcing a plan to increase the number of the payment machines to 10,000 within a year.
Khalid explained that “Yagout Pay will contribute to promoting digital financial inclusion and realizing the Digital Ethiopia 2025 strategy.”
Nebiyu Mengistu, Chief Operation Officer of EthSwitch S.C., for his part stated that 18 banks are in Ethiopia are integrated though company’s digital payment system, calling the inauguration of Yagout Pay as a milestone to expand access to POS terminal based digital payment system in the county.
Ethswitch SC is a national switch fully owned by all banks in Ethiopia which is providing a simple and efficient e-payment infrastructure for banks and financial institutions in the county.