Addis International Bank joined Premier Switch Solutions, a payment processing operator allowing a joint use of ATMs and point of sale devices by its member banks, Fortune reported.

Addis acquired shares in Premier Switch Solutions worth 4.8 million birr last month and is waiting the launch of its CORE banking system to access the services of Premier Switch Solutions.

By joining Premier Switch Solutions, Addis International Bank which does not own any ATM or POS terminals, will be able to access 60 ATM machines currently in operation by Premiers Switch Solutions.

Established in 2010, by Awash International, United and Nib International banks, Premier Switch Solutions allows member banks to use its hardware and technology infrastructure avoiding associated costs with setting up switch systems by individual banks.

Source: Fortune