ArifPay Inks Agreement with Abay Bank

October 30 , 2021


ArifPay Inks Agreement with Abay Bank

ArifPay, a fintech company, and Abay Bank inked an agreement last week to launch a mobile point of sales (mPOS) service. An m-POS service is implemented through smartphones or tablets that can perform the tasks of a cash register or a traditional POS machine, wirelessly enabling bank account holders to make payments from ATM cards issued by any bank. The central bank issued a directive last year allowing non-financial institutions to operate as payment instrument issuers, including the supply of m-POS card reader devices. Abay Bank recorded profits of a little over half a billion Birr in the 2019/20 fiscal year, while its paid-up capital jumped 30pc to 2.17 billion Br during the same period.


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Youth in the National Theatre area are waiting for the bus to start moving. They have found a handle to grab and accelerate them ones its starts moving as they ride their skateboard. Although skateboarding is nearly unheard of in Ethiopia, over the past few years, young people have developed a taste for it. Safety, though, leaves a lot to be desired...