SantimPay Financial Solutions S.C. is set to expand its contactless payment network in Ethiopia with plans to deploy over 10,000 Point of Sale (POS) machines within the coming Ethiopian year (2017).
The company, which specializes in modernizing payment systems, aims to accelerate the country’s digital transformation. According to CEO Tinsae Dessalen, SantimPay has experienced rapid growth since its inception in July 2022. The company has already distributed over 1,000 POS machines and now facilitates daily transactions worth over Birr 100 million, a substantial increase from the initial Birr 20,000 per day.
Despite challenges such as frequent network outages, SantimPay is committed to improving its services. The company is working closely with 11 banks to enhance the contactless payment system and has already garnered over 1 million customers in just two years.
Tinsae emphasized the high demand for contactless payment solutions in Ethiopia, highlighting the company’s role in addressing the country’s digital development gap. By expanding its POS network, SantimPay aims to provide greater convenience and security for both consumers and businesses.
Source: Sheger FM 102.1
