EthSwitch, Oromia Bank, and Mastercard launched a historic arrangement on November 15,2022 ,that would enable Mastercard debit, credit, and prepaid cards to be accessed at all of the Bank’s ATMs across the nation.“Oromia Bank is the first bank to accept Mastercard payment cards using EthSwitch as the payments processor – a milestone we are extremely proud of,” says Yilebes Addis, Chief Executive Officer at EthSwitch. “The mandate of EthSwitch is to contribute to the modernization of the national payments system and enhance financial inclusion in the country. Through this partnership, we are progressing this goal by enabling interoperability of ATMs and making it easier for people to transact.” ATM usage has increased rapidly in Ethiopia since its deployment in 2001. By the end of the 2020/2021 fiscal year, Ethiopia’s banking industry had processed a total of over 225 million ATM transactions, of which 38,302,370 were inter-bank transactions facilitated by EthSwitch.
