NIB Bank and Arifpay Financial Technologies have formed a strategic alliance to increase access to digital payment systems throughout Ethiopia.
The partnership combines Arifpay’s developing fintech skills with NIB Bank’s vast financial infrastructure to provide a variety of integrated solutions that meet the changing demands of merchants and businesses.
By merging Arifpay’s fintech innovation with NIB Bank’s extensive financial infrastructure, the alliance promises to deliver integrated, practical solutions for merchants, service providers, and SMEs.
A core feature of the collaboration is the deployment of mobile and smart point-of-sale (POS) devices, enabling businesses to accept Visa, Mastercard, and UnionPay payments.
This shift from cash-based operations is expected to enhance transaction security and attract more foreign clients—boosting foreign currency inflows.
Implementation of secure digital payment gateway
To support Ethiopia’s expanding e-commerce industry, the agreement also calls for the implementation of a secure digital payment gateway.
With a locally managed, real-time transaction platform that improves dependability and customer trust, the gateway will make online payments easier for companies that operate in the digital sphere.
A free e-commerce platform that is directly integrated through Arifpay’s gateway will also be made available to merchants as part of the rollout.
“With this partnership, NIB Bank’s customers can access these all-inclusive payment solutions,” said Rediet Tsigeberhan, CEO of Arifpay.
“Moreover, a free e-commerce platform for merchants through our payment gateway will further empower businesses. Teaming up with NIB Bank allows us to scale our fintech innovations nationwide and work with a larger, more inclusive, and digitally empowered economy.”
These tools are complemented by a merchant-focused mobile application that lets vendors use their smartphones to manage transactions, take payments, and view real-time analytics.
The application helps businesses make data-driven decisions, better understand customer behaviour, and monitor cash flow.
Super Merchant model
Furthermore, Arifpay’s interoperable technologies will enable NIB Bank to incorporate them into its current digital services through the “Super Merchant” model that this partnership introduces.
In addition to increasing access to digital financial tools and modernising the bank’s retail offerings, the model aims to streamline the onboarding process for new merchants.
According to NIB Bank CEO Henok Kebede, the collaboration is in line with the bank’s strategic goal of becoming a pioneer in digital financial services.
“By combining our infrastructure with Arifpay’s technology, we are positioned to deliver practical, customer-focused solutions that support business growth and financial inclusion,” he said.