The Commercial Bank of Ethiopia (CBE) has launched StarPay, a digital payment gateway that functions both online and offline. Acting President Ephraim Mekuria described digital transformation as a necessity, praising the platform's simplicity for money transfers. Developed in collaboration with StarPay Financial Technologies, it offers seamless banking services and supports Ethiopia's digital agenda.
The Commercial Bank of Ethiopia (CBE) recently introduced StarPay, marking a significant step in the country's push toward digital banking. This new platform serves as a payment gateway integrated with CBE's existing banking system, enabling transactions in both online and offline modes. Ephraim Mekuria, the Acting President of CBE, underscored the importance of this development during the launch, stating that "digital transformation is now a necessity" and highlighting how the app simplifies money transfers for users.
StarPay was developed in partnership with StarPay Financial Technologies, a subsidiary of Eaglelion Technology Plc. The service provides a range of features designed to enhance customer experience, including seamless digital banking, various payment options, accounting tools, and even the ability to submit VAT returns directly to the Revenue Authority. These functionalities aim to make financial services more efficient and accessible to Ethiopians.
Mekuria further explained that StarPay aligns closely with the government's Digital Ethiopia 2030 strategy, which seeks to modernize the economy through technology. By addressing the increasing demand for reliable digital solutions, the platform is expected to support broader financial inclusion. While the launch represents progress in Ethiopia's financial sector, it comes amid ongoing regulatory scrutiny of payment providers, though details on immediate impacts remain limited.
This initiative builds on CBE's efforts to expand its digital offerings, responding to the growing need for convenient banking in a rapidly evolving market.