EthSwitch and Kacha Digital Financial Service signed an agreement to work together. Kacha joined EthSwitch, a payment platform for commercial banks, to expand its services and deliver efficient service to its customers.

The company is expected to collaborate with banks, microfinance institutions, insurance companies, and credit savings institutions to provide digital transactions in Ethiopia.

Customers of the Kacha will be able to make income and expenditure through various options including the use of agents, access savings, loans, and insurance services, and make payments.

EthSwitch is a share company which is fully owned by all banks in Ethiopia. It was established in 2011 to provide e-payment infrastructure services to retail payment service providers. Since 2016, it has enabled interoperability of ATMs operated by all banks.

Kacha is reportedly the first private mobile money service provider in Ethiopia.

Source (including image): Fana BC

Additional source: EthSwitch