Premier Switch Solutions (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 cornerstone in moving the society from cash based economy to a greater use of electronic payment system. PSS is also dedicated to contributing 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 a shared network which complies with all relevant international standards.