• eKash will benefit over 1.3 million Equity Bank customers, enabling instant money transfers across local banks, mobile money operators, MFIs, SACCOs, and fintech companies.


• The platform is accessible via Equity Bank's mobile app, USSD (*555#), and Equity Online, ensuring seamless and instant transfers.


• eKash promotes a cashless economy and financial inclusion by integrating various financial institutions.

Kigali, Wednesday 26th June 2023 — Equity Bank Rwanda and RSwitch, the Rwanda national payment switch, are pleased to announce the launch of the eKash payments platform that will enable over 1.3 million Equity Bank customers to instantly transfer money across other local banks, mobile money operators, Microfinance Institutions (MFIs), SACCOs and fintech companies. As Rwanda’s integrated digital payments platform, eKash is championing interoperability and seamless movement of money, presenting a significant milestone in Rwanda’s payments industry.

The eKash platform has been launched on Equity Bank's mobile app, USSD (*555#), and Equity Online. This platform enables customers to send and receive money instantly to and from other local banks, mobile money wallets, as well as MFIs, SACCOs and fintechs. Among other benefits, eKash ensures that customers experience instant credit to the beneficiary in transferring money across different financial institutions as transfers go through within seconds. Additionally, they can verify the recipient details before sending money, even if they bank with a different service provider. The platform is also expected to support the efforts to achieve a cashless economy and financial inclusion.

At the press launch of eKash, Hannington Namara, Managing Director of Equity Bank Rwanda, emphasized the benefits of interoperability among financial institutions, stating, "Connecting various financial institutions will greatly enhance people's lives. The eKash platform highlights our dedication to advancing financial inclusion and working with the government to foster a cashless economy."

Blaise Pascal Gasabira, the Chief Executive Officer of RSwitch, said, "With Equity Bank joining eKash, we've achieved full interoperability among all licensed commercial banks and mobile money operators in Rwanda. This breakthrough ensures smoother retail payments, removes transaction friction, and boosts financial inclusion, making instant, seamless transfers a reality for everyone. eKash is transforming how Rwanda moves money."

eKash's mission is to accelerate the digitization of retail payments across various digital channels and instruments cost-effectively and efficiently. By providing a centralized, digital retail payment platform accessible to a wide range of payment system actors—both existing and new—eKash aims to enable end-to-end interoperability of bulk and low-value payments in Rwanda. Soon, all payment service providers will be connected to eKash, achieving full interoperability.