PSS is a consortium owned by six private banks i.e, Awash Bank, Nib International Bank, Hibret Bank, Berhan Bank, Addis International Bank, and Cooperative Bank of Oromia. It was established in 2009 by the visionary banks to save the high investment cost of the modern payment platform and deliver electronic payment services to financial institutions with a shared system. It commenced operation officially on July 5, 2012, with 165 million Birr.
As the modern payment system plays a Major role in the economy’s growth, PSS has the vision to be a cornerstone in moving the society from a cash-based economy to greater use of the electronic payment system. PSS has also been dedicating to contribute to the modernization of National Payment System in the country by optimizing economies of scale in investing on e-payment infrastructure through providing inter-connectivity and interoperability among participants through a shared network which complies with all relevant international standards.
Vision: - To be the cornerstone of attaining a cashless society in Ethiopia.
Mission statement: to provide efficient and diversified e-payment service to a growing number of customers using state of the art technology that is the most benefit to member banks and users.
Core values: -
Treating our customers with respect and faith
Growing through creativity, invention and innovation.
Integrating honesty, integrity and business ethics into all aspects of our business functioning.
Contribute to the modernization of the National Payment System in the country
Optimize economies of scale in investing in e-payment infrastructure
Provide inter-connectivity and interoperability among participants
Connect to the National Switch
Provide vital retail payment statistics for tactical and strategic planning purposes
Provide a mechanism for proactive detection of card frauds.