Financial Technologies to Launch POS En Masse

Apr 8 , 2023

ArifPay, a digital payment service provider, launches Point of Sale (POS) partnering with the national switch operator EthSwitch. Bernard Laurendeau, Arifpay CEO, said the new system allows all 28 banks to be integrated, where customers can make payments using their debit cards. He expects increasing deposit mobilisation and money transaction velocity will be possible. ArifPay was incorporated two years ago with 140 million Br capital raised from 40 shareholders, firing its own digital payment service four months ago. According to Bernard, the technical part of the new POS was built in-house with a team led by Rediet Tsigeberhan, a product director in the company. The national switch operator, EthSwitch, has reported 221 million Br in gross profit, registering a growth of 153pc from its previous year’s performance. A 2.4 million POS and 171 million ATM transactions through 18 million debit cards were recorded last year.