Interswitch is a Lagos, Nigeria-based fintech company founded in 2002 to provide integrated payment and digital commerce solutions to the African market. Through its broad range of products and services, the company connects consumers, merchants, and financial institutions to drive digital payments and financial inclusion in the African region.
Company
- OverviewFounded: 2002Headquarters
- : Lagos ,
- NigeriaFounder: Mitchell ElegbeScope
- of Services: Covering 23 African countries, with more than 11,000 ATMs and an extensive network
of agents Regulatory Information
Interswitch has obtained a Payment Services Holding Company (PSHC) license from the Central Bank of Nigeria (CBN) to ensure its legal and compliant operations in Nigeria. In addition, the company has taken strict measures in terms of data protection to comply with relevant laws and regulations to ensure the security of customer information.
Products &
ServicesQuickteller is Interswitch's retail payment platform, which supports users to make bill payments, phone bill top-ups, flight bookings and other transactions, improving the convenience of users' payments.
Verve is Interswitch's localized payment card brand that has been accepted in 21 African countries and 185 countries, making it a widely used payment tool in the region.
Interswitch provides comprehensive payment solutions for enterprises, including payment gateways, collection and payment services, mobile financial services, and consulting services, to meet the needs of different industries.
The company provides customized payment and management solutions for industries such as healthcare, energy, and transportation to help enterprises achieve digital transformation.
Market Positioning &
StrategyInterswitch is committed to driving digital payments in Africa through technological innovation, with a particular focus on underserved and underserved regions. The Company expands its network to provide seamless payment solutions through strategic partnerships with banks, mobile network operators, and other key stakeholders. In addition, Interswitch focuses on localized marketing strategies, developing personalized marketing campaigns based on cultural, linguistic, and economic factors in different regions to enhance user engagement and loyalty.
Neutral Evaluation
: As a leading fintech company in Africa, Interswitch has successfully promoted financial inclusion in the African region with its innovative payment solutions and extensive service network. Its compliance efforts ensure the sustainability of the business. However, in the face of the diverse regulatory environment and rapidly changing technology needs in African countries, Interswitch needs to continue to strengthen compliance management and technological innovation to maintain its market leadership.
For more information, visit the official Interswitch website at https://interswitchgroup.com/
