Company Profile

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 corner stone in moving the society from cash based economy to a greater use of electronic payment system. PSS is also dedicated to contribute 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 shared network which complies with all relevant international standards.

Governance

  • The General Assembly of Shareholders is at the apex of the company’s organizational structure.
  • PSS is supervised by Board of Directors that includes a Chairman and other seven Directors who are elected by the General Assembly of Shareholders.
  • The Management of the PSS is entrusted to the CEO who is appointed by the Board of Directors

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.

PSS is supervised by board of directories that include a chairman and other seven directors who are elected by the general assembly of shareholders. The management is entrusted to the CEO who is appointed by the board of directors.

The management team has established a right-hand partner that operates to the highest standards of solidarity and integrity, all investment and working decisions is done by strong and explicit code through the general assembly found at the apex of the organizational structure, commits itself to the highest standard of governance.

PSS provides a complete end-to-end solution to a range of electronic transaction processing channels.  We use state-of-the art technology to process payments to financial institutions and merchants being the first and the only PCI DSS certified Payment processor in the country.

Supported Services

  • ATM Driving and Management – Risk management
  • POS Driving and Management – Chargeback Management
  • E-commerce – Online & Offline Fraud Monitoring
  • Debit card solutions
  • Prepaid card solutions
  • Credit card solutions
  • Interest free card solutions
  • Card personalization
  • Call center

PSS has and will be contributing to the professional and ethical development of the payment industry in the country by introducing new product and services in the market.

Service Availability and Reliability

PSS provides a reliable 24 x 7 hour service to its customers, in which the end result is a reasonable satisfaction throughaccessibility when desired,continuity of uninterrupted services and meet the expectation of its customers.

Being governed by the National and International code of the payment system, PSS is highly focused on the best interest of its members with unstopped effort for changes to make itself qualified, competitive, cost effect and profitable company with reputation for solidarity and integrity.   It always strives:-

  • To introduce new services to lead the market and
  • Customize services as per members’ requirements to best satisfy their needs and add value on their competitive advantages.

PSS implemented the best state-of the art payment technology with multichannel capability making sure to meet the most current payment technology standards.

PSS implementsnew ideas, devices and applications for betterment of solutions that meet new requirements. As an organization, PSS is constantly working on changes in efficiency, productivity, quality, competitiveness, market share, and others to enable the organization to translate innovative activity into tangible performance improvements. Innovations such as mobile banking, e-commerce, and wireless networking and contactless are being developed and will be introduced by PSS to the market to meet the specific need of client’s. PSS has the profession and skill to access modern technologies that enable it to deliver new products constantly, timely and reliably.

Being a payment processor experienced for more than 3 years, PSS has its own resource allocation system which is stored in type and quantities. Even if all the properties cannot be necessarily short listed, PSS has a set of policies and procedures to enable the recovery or continuation of vital technology infrastructure and systems following a natural or human-induced disaster.

The Disaster recovery focuses on the IT or technology systems supporting critical business functions. PSS set disaster recovery site to get protected from major loss of business data.

PSS use skilled man power and well-coordinated management systems to serve our client’s professionally and efficiently, assist the client by providing helpdesk support, consultancy service to banks.

PSS is organized by qualified team members which most of its employees have ample experience focused on the payment industry. Our support team specifically is composed of qualified, committed, friendly and knowledgeable staffs that are ready to serve our customers 24 x 7. Our support team members are trained in business skills and relationships management in order to empower them to interact with customers in a professional manner. The team is supported by a system to remotely monitor ATM’s, POS’s and transactions and also engineers are dispatched in response to onsite technical issues.

PSS serves as a third party payment processor to its member banks. PSS has made its system certified by VISA, Master Card and Union pay, the biggest card association in the world. Hence, members connected to PSS network can issue and acquire cards with these brands.

PSS is an entity that was eventually established under consortium in 2009. We are the first certified Third Party Payment Processor by the regulatory party, National Bank of Ethiopia.  PSS has went operational in July 2012 with its three founder member banks and latter three banks joined taking the advantage of opportunity availed by PSS.

Today, PSS operation is diversified in different parts of the country through the branches of its members and range of acquiring channels scattered throughout the country. Looking in to the future; we say we are tied to the vision first envisioned by our founder banks“to be the cornerstone of attaining a cashless society in Ethiopia”.

Our Company didn’t expect to reach a desired profit in the first year and does not anticipate serious cash flow problems.  Rather PSS is committed to serve its members with a minimum possible cost by generating only an averagely growing income so that their competitiveness increases in the modern payment market.

  • Unique and creative solutions that meet customers’ expectations not only by realizing their business objectives, but also by strict adherence to the ethical principles and objective of the company’s regulation.
  • Continuous search for creative approaches to customers’ special needs in order to find unique and tailored payment solutions.
  • Team work based on progressive communications and disciplined professional quality of services
  • Services provided by a highly motivated team, with courage and readiness to communicate tocustomers in need of assistanceand strong technological background with 24 x 7 hour availability.