BY LAKACHEW ATINAFU
Transaction in Ethiopia has evolved through bartering and utilizing amole salt bar, Maria Teresa before the introduction of paper money.
Though the concurrent use of paper money could be better compared to the past the value of time is not considered and citizenries are always in the queue. Thus, finding ways is a time demanding responsibility in service providing institution in the fourth industrial revolution.
Most of all the transaction cost of time was not thought of for ages; citizens were in misery to have services especially in banks custom offices, emigration, and among other service providing offices.
Now scaling up best practices of experiences that made transaction time make zero, Ethiopians began to take initiatives to be competitive and competitiveness in the global business arena envisaging digitalization as a strategic component to transcend the country.
Now must it is to adopt digitalization in firms, especially service provider institutions to make transaction cost of time zero. According to the experience of the world and taking into consideration the value of time wasted in the process of transaction, some institutes aspired to up line the countries transaction system to digitalization.
In resent discussion held in the capital the Ethio- telecom along with business partners told members of the press that the world is on the spring board from globalization to digitalization.
The institute recently announced that, it has transacted over 153 billion Birr since the introduction of its ‘Tele-birr’ digital payment system, which is integrated with 14 commercial banks, adding that the international remittance has also surpassed the 1.46 billion USD mark.
Ethio- telecom and CNET Software Technologies signed a partnership agreement on Thursday to implement an integrated digital service charge and transaction payment system aimed at easing service and catalyzing it.
Speaking on the occasion, Ethio- telecom CEO Frehiwot Tamru stated that, the agreement would enable the CNET Software Technologies partners’ to get their customers settle service charges and transactions using Tele-birr which is an easy, fast, convenient and secure digital payment system.
Noting the Tele-birr has acquired a subscriber base of 25.85 million, the CEO indicated the platform has been integrated with 17 commercial banks to transfer money from bank to Tele-birr and with 14 banks to transfer money from Tele-birr to banks.
“In the time ahead, our company is keeping on diligently committing to integrate with a number of services with Tele-birr in collaboration with other similar institutions and make all their customers’ payments possible in one window service. Our activities in this regard aim to make the vision of digital Ethiopia a reality.”
Chief Mobile Business Officer at Ethio- Telecom Biruk Adhana said for his part that the implementation of Tele-birr and CNET integrated payment system will play a significant role for institutions like hospitals, pharmacies, hotels, supermarkets and entertainment service providers to ease their payment service cumbersome. Using Tele-birr, which is currently used by over 25 million subscribers, also enhanced the transaction of those institutions.
The operator is also in partnership with other institutions and has launched three types of financial services namely telebirr mela, telebirr Endekise and telebirr Sanduq.
As to CNET Software Technology CEO Bemenet Demissie, the company is providing hotel booking, online hotel reservation and booking service to global customers and the partnership with Ethio-telecom helps the firm to render seamless service.
The Ethio- telecom company and CNET software technologies have signed on the very day to implement Tele-birr & CNET integrated payment system that would enable the CNET Software Technologies partners’ to get their customers settle service charges and transactions using Tele-birr which is easy, fast, convenient and secure digital payment system.
Consequently, customers can easily settle their service charge or make transaction payments by scanning service rendering/ product suppliers’ QR Code or by informing the cashier in advance that they want to settle the payment via Tele-birr and using the payment reference PIN sent to their mobile, they can settle via Tele-birr app or USSD and will receive a payment confirmation message from Tele-birr 127.
In a recent memory, the company in partnership with Dashen Bank has launched three types of financial services namely Tele-birr mela (micro credit) a service that allows individual customers, agents and merchants to borrow money for any transaction or withdrawal and Tele-birr Endekise (credit pay/overdraft service) a service that enables customers to borrow money when they are short of balance in their Tele-birr account while making transaction and Tele-birr Sanduq (Micro Saving service) a saving service which is available with interest free and interest rate based micro saving services with a theme of finance for all to ensure financial services inclusion and accessibility to our wider society. Tele-birr digital payment system has acquired a subscriber base of 25.85 Million within a short period, 101 master agents, 87 thousand agents and 23 thousand merchants.
In addition, the platform has been integrated with 17 banks to transfer money from bank to Tele-birr and with 14 banks to transfer money from Tele-birr to bank and over 153 billion ETB has been transacted. Furthermore, the company has already integrated a number of services with Tele-birr digital payment system by signing agreements with several service rendering organizations and institutions so as to ease their customers’ service related hustles being the best digital payment option.
In the time ahead, the company is keeping on diligently committing to integrate with a number of services with Tele-birr digital payment system in collaboration with other similar institutions and make all their customers’ payments possible in one window service using Tele-birr digital payment system with a view to strengthen the effort of realizing the digital Ethiopia’s set vision.
According to documents and reports of both local and international media’s with the Safari-com Ethiopia launch still some months off, the country’s state-owned Ethio-Telecom has again taken advantage of its sole service provider position with the introduction of another mobile finance-related service in Africa’s second most populous country.
Ethio- Telecom and the country’s Information Network Security Administration (INSA) recently launched a monthly water service bill payment offering via mobile payment system Tele-birr. The agreement, allows Tele-birr subscribers in the towns of Arba Minch, Bahir Dar, Dessie, Finote Selam, Harari, Injibara and Kombolcha to pay for water and sewerage services via Tele-birr through INSA’s Derash integrated payment platform.
Apart from the convenience of the system, it is hoped that the new scheme will improve the timeliness and reliability of monthly bill collection; customers will be able to settle their bills wherever they are. Other bonuses are likely to include improvements in customer relationship management through the generation of real-time reports, as well as the chance to segment and identify customers more easily according to their level of service utilization.
The scheme will also, of course, further boost the use of digital payments in the country. In fact, according to the Origins Business website, the Tele-birr payment system now has over 19 million subscribers, more than 82 master agents, over 67,000 agents and more than 17,000 merchants. It has also integrated with 12 banks to offer money transfers.
Ethio- Telecom has been expanding the scope of Tele-birr service provision for a while now. As it is reported in March, drivers’ traffic penalty payment platform was another recently launched service.
The Ethiopian Herald November 30/2022
