ArifPay has obtained license from NBE (National Bank of Ethiopia) to operate an online electronic payment system and it has started implementation, Ethiopia's Ministry of Innovation and Technology announced.

The payment mechanism is said to enable traders and businesspeople, as well as all users to make payments online and obtain receipts.

Huriya Alie, State Minister of Innovation and Technology, said such payment options are invaluable for facilitating online businesses.

As part of the government's efforts to build the digital economy and ensure the existence of various online payment options, a draft start-up proclamation is in the pipeline, she pointed out.

ArifPay has been established by Ethiopians living all over the globe, with a capital of $3.1 million.

Figures indicate that less than two percent of the Ethiopian population uses electronic payment options.

Source (Including Image): Ministry of Innovation and Technology