PSS is a consortium owned by six private banks i.e., Awash International Bank, Nib International Bank, United Bank, Berhan International 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 key role in the economy’s growth, PSS has a vision to be a cornerstone in moving the society from cash based economy to a greater use of electronic payment system. PSS is also dedicated to contributing to the modernization of National Payment System in the country by optimizing economies of scale in investing on e-payment infrastructure through providing interconnectivity and interoperability among participants through a shared network which complies with all relevant international standards.
Company Strategy
- Vision: - to be the corner stone 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 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.
- Goals: -
- Contribute to modernization of the National Payment System in the country
- Optimize economies of scale in investing on e-payment infrastructure
- Provide interconnectivity and interoperability amongst 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.