EthSwitch Showcases Ethiopia’s Digital Payment Infrastructure at Global Fintech Fest 2026

Ethiopia’s national payment switch, EthSwitch, is leveraging the Global Fintech Fest in Mumbai to position the country’s digital infrastructure for international connectivity. As developing nations seek to balance domestic regulatory control with global financial integration, Ethiopia’s progress in interoperable QR codes and instant payments offers a significant case study for fintech professionals tracking emerging market infrastructure.

What was announced

Abeneazer Lakew, Chief Portfolio Officer at EthSwitch, represented the Ethiopian national payment switch at the Global Fintech Fest 2026 in Mumbai. Participating in a panel on digital public infrastructure during the event, which runs from Sept. 8 to 11, Lakew highlighted Ethiopia's shift from basic bank connectivity to a comprehensive shared infrastructure linking banks and payment institutions. The appearance aligns with a broader push by the Indian government to export its Unified Payments Interface (UPI) model, which currently operates in 11 countries and processed 24.51 billion transactions worth approximately $314 billion in August.

EthSwitch reported significant scaling of its domestic rails, with its EthioPay instant-payment service recently processing over 1 million peer-to-peer transactions in a single day, totaling 5.1 billion Ethiopian birr. This growth is supported by the implementation of an ISO 20022-enabled instant-payment system and the National Bank of Ethiopia’s mandate for interoperable QR standards across all banks and payment operators. The strategy presented in Mumbai focuses on moving beyond domestic modernization toward creating a bridge for international trade, remittances, and digital commerce. By positioning itself within the global digital public infrastructure debate, EthSwitch aims to ensure Ethiopia’s payment systems remain nationally controlled while becoming globally interoperable.

"Trusted, Connected, Global Systems for Inclusive Finance."

The official theme of the Global Fintech Fest 2026, as cited by EthSwitch.

The companies involved

EthSwitch, which operates at ethswitch.com, serves as Ethiopia’s national payment switch, a critical piece of financial architecture that links banks, payment institutions, and other participants in the country’s digital financial system. Established to provide a common platform for electronic payments, the company has evolved from a traditional switch into a provider of shared digital public infrastructure. Its remit includes the management of the EthioPay national payment brand, which facilitates interoperability across various financial institutions, including commercial banks and microfinance entities.

The company’s current focus involves the deployment of instant payment systems and the standardization of QR codes to unify a fragmented digital economy. By operating as the central hub for the National Bank of Ethiopia’s interoperability mandates, EthSwitch occupies a strategic position in the nation’s financial sector. It is increasingly looking beyond its borders to integrate with global networks, reflecting a broader trend among African national switches to seek direct connectivity with international payment rails. This transition is aimed at reducing the costs of remittances and facilitating cross-border trade, positioning EthSwitch as the primary gateway between Ethiopia’s domestic market and the international financial system.

What FF News has reported before

FF News has closely tracked EthSwitch’s rapid infrastructure expansion throughout 2026. In February, we reported on the company’s foundational move to EthSwitch Launches National Instant Payments, Unifying Ethiopia’s Digital Economy on BPC SmartVista. This was followed in July by a series of strategic developments, including a report on how Ethiopia Accelerates National Digital Payment Rollout for Government Services.

The company’s international ambitions were further highlighted in July 2026 when EthSwitch and SWIFT Partner to Revolutionize Ethiopia’s Cross-Border Instant Payments. Additionally, we covered the company’s technological exploration in a report detailing how EthSwitch and Huawei Explore AI Partnership to Revolutionize Ethiopia’s Cross-Border Payments.

What this means

The presence of EthSwitch in Mumbai signals a shift in how emerging markets view payment rails—not just as domestic utilities, but as tools of economic diplomacy. By aligning with the digital public infrastructure narrative championed by India, Ethiopia is challenging the traditional dominance of private global card schemes in the cross-border space. This move puts pressure on legacy remittance providers and international banks to adapt to sovereign-led interoperability. The central question for the sector is whether these nationally-controlled systems can achieve true global scale without the backing of a single, unified global regulator, or if the future of payments will remain a fragmented patchwork of bilateral agreements.