By our staff reporter

Digital financial solutions provider, Premier Switch Solutions (PSS), reveals that cash withdrawals of 101.1 billion birr have been made since operations was established.  The end to end solutions provider also highlighted that in the past fiscal year a growth of 60 percent was made with 30.2 million ATM transactions.

According to PSS’ recent report, the company’s paid-up capital has increased to 15,599,000 Birr, with the total paid-up capital reaching 165,001,000 Birr.

As Hailu Alemu, Chairperson, Board of Directors at PSS, cited, his firm was able to generate a total revenue of 268.9million birr, with profit after tax coming in at 41.4 million birr.

In the report, the number of remote-on-us transactions carried out at ATMs of non-PSS banks by holding PSS identification cards was more than 8 million, with total figure 9.1 billion birr.

The total sale of cardless transactions through mobile phones showed a growth of 71.4 percent compared to the previous fiscal year while 26,000 withdrawals worth 27.8 million birr were made in the reporting year.

According to the report of the Board of Directors, in the last fiscal year, 201,497 purchase transactions worth 376.7 million birr were made by 160,989 member banks and 40,508 international payment cards using POS machines. This is said to be a 115% increase compared to the previous reported year.

The total number of payment cards distributed by PSS since its establishment has reached 5.7 million. Compared to the previous year, this year’s performance was 8% lower due to the change in the banks’ operational direction.