Premier Switch Solutions S.C. (PSS), Ethiopia’s first third-party payment processor, has partnered with Mastercard to introduce the nation’s first certified Access Control Server (ACS) that is integrated with EMV 3D Secure (3DS) 2.2 standards.
The initiative, which was announced on Thursday, will strengthen e-commerce security and align Ethiopia’s payments ecosystem with international compliance standards.
The ACS serves as an extra layer of authentication for online card transactions, confirming the cardholder’s identity before approving payments.
It keeps the payment process quick and helps identify and stop fraud while working covertly during checkout.
PSS’s leadership in e-commerce security
According to PSS CEO Amha Tadesse, the launch strengthens the company’s ten-year relationship with Mastercard and solidifies PSS’s position as a leader in safe, reliable online shopping.
The platform, which is powered by Mastercard’s Identity Check, employs risk-based, real-time authentication to eliminate fraud and flag suspicious activity while allowing domestic currency transactions without interfering with valid payments.
According to Shehryar Bakht Ali, senior vice president and country manager for East Africa and Indian Ocean Islands, the initiative reflects Mastercard’s efforts to increase financial inclusion and foster trust.
“By working with Premier Switch Solutions S.C., we are enabling a safer, more inclusive financial ecosystem that unlocks opportunity and innovation,” he said.
About Premier Switch Solutions S.C
Six privately held banks formed Premier Switch Solutions S.C., a third-party banking technology and services provider in Ethiopia, to lower the costs of financial payment infrastructure and guarantee interoperability.
The six banks are Awash Bank, Nib International Bank, Hibret Bank, Berhan International Bank, Addis International Bank, and Cooperative Bank of Oromia.
PSS, the first third-party payment processor to receive certification from the National Bank of Ethiopia, was registered in 2011 and commenced business on July 5, 2012, with 165 million Birr.
It keeps improving Ethiopia’s payment environment by providing services like e-commerce, card solutions, customer support, ATM and POS management, and more.
It boosts economies of scale by investing in e-payment infrastructure and helps modernise the nation’s National Payment System.
It enables interconnectivity and interoperability by connecting to the National Switch and providing crucial retail payment statistics for tactical and strategic planning purposes.
About Mastercard
Mastercard empowers people and drives economies in more than 200 nations and territories worldwide. It’s working with its customers to create a sustainable economy that benefits all.
Its extensive support for digital payment options makes transactions safe, easy, smart, and available. Its networks, partnerships, and innovation and technology provide a distinctive range of goods and services that enable individuals, organisations, and governments to reach their full potential.