The Founder and Group Managing Director of Interswitch, Mitchell Elegbe, has been named the 2023 West African Entrepreneur of the Year (Masters Category), by professional services firm, Ernst and Young (EY).
17th March, 2023
Interswitch Group, one of Africa’s leading financial technology and integrated payments solution providers has announced receipt of a Payments Service Holding Company (PSHC) License issued by the Central Bank of Nigeria (CBN).
25th January, 2023
Today in Nairobi, Interswitch Group formally unveiled the 2022 Payments Innovation Jury Report, which was also supported by The World Bank and Global Processing Services (GPS)
4th October, 2022
In line with its mission to develop technology solutions that connect and empower individuals, businesses and communities across Africa, Quickteller, the consumer digital lifestyle and payments platform powered by Interswitch, has added Quickteller Transport to its arrays of innovative services.
27th September, 2022
In line with its commitment to deepen and stimulate the growth of digital payment in Nigeria and beyond, Africa’s leading integrated digital payment and e-commerce company, Interswitch Group, held a two-day event tagged ‘Collaborating for Industry Growth and Profitability’
26th September, 2022
Africa’s leading integrated payments and digital commerce company, Interswitch, has organized its Engagement Forum with State Revenue Boards – Northern Region to discuss revenue collection and growth strategies using technology.
23rd September, 2022
Africa’s leading integrated digital payment and e-commerce company, Interswitch Group, is set to launch an array of innovative financial products and solutions to drive the growth of the financial industry at the second edition of Interswitch TechConnect.
20th September, 2022
Interswitch, Africa’s leading integrated payments and digital commerce company, was one of the silver sponsors of Nigeria's largest tech conference for women, the WeTech Conference.
23rd August, 2022
Verve, Africa’s leading payment technology and card business, has announced the launch of its third National Consumer Promo, aimed at rewarding its cardholders with exciting gifts and cash prizes that will enhance customer satisfaction and loyalty.
22nd August, 2022
Excellence certainly shines bright on every platform. This is evident in the exemplary performance of three young alumni of the InterswitchSPAK National Science Competition, who have shown outstanding academic performance at the 2022 Unified Tertiary Matriculation Examination (UTME).
9th August, 2022
Africa’s leading payment cards and digital tokens brand, Verve, has partnered with uLesson, an online learning platform to offer 10% discount off educational content and gadgets when payments are made with Verve cards on the uLesson website
27th July, 2022
Interswitch, Africa’s leading integrated payments and digital commerce company, has emerged as one of Nigeria's top five companies in Diversity, Equity, and Inclusion (DEI) according to a report by advisory consulting firm, Hofstede Insights.
Interswitch, Africa’s leading integrated payments and digital commerce company, and Compass Plus Technologies, an international innovative retail banking and electronic payments solutions provider have announced a partnership to further strengthen Interswitch’s payment card processing capacity in Africa.
The strategic partnership will see Interswitch utilise TranzAxis, a world class cloud based, and service-oriented architecture developed by Compass Plus with innovation at its core, for Verve, Visa and Mastercard credit card processing.
This collaboration forms part of Interswitch’s comprehensive response to the evolving and constantly expanding demand by the African market and will boost its presence across the continent as it continues to deliver on its promise as the gateway to Africa’s payment ecosystem. Currently, six banks across Africa have been onboarded on the new platform, resulting in a major collaboration with Sterling Bank of Nigeria to launch the first Verve credit card in the country.
Commenting on the collaboration with Compass Plus Technologies, the Managing Director, Payment Processing and Switching (Interswitch Purepay), Akeem Lawal said:
“We are pleased to announce this partnership with Compass Plus Technologies which aligns with our commitment to making payments easy and convenient. Migrating our card processes to the TranzAxis platform will allow us to further improve our service offerings as we remain focused on providing cutting-edge solutions that optimize service delivery.”
He also added: “Interswitch will continue to leverage strategic partnerships like this that will position us for greater impact on the African continent.”
Also commenting, Adil Ahmed, Vice President & Deputy Managing Director, MEA at Compass Plus Technologies, said:
“We are delighted to partner with Interswitch, one of the biggest processors in Africa. Interswitch has always strived to drive positive change in the region, and now that they have TranzAxis to support their ambitions, they will continue to revolutionise Africa’s payments space in the region, further strengthen the Verve payments network, and manage their Visa and Mastercard credit card business more efficiently.”
By utilising TranzAxis, Interswitch can rely on its API extensibility feature for seamless integration, which significantly accelerates time to market. The omni channel platform is flexible with simplified operational workflows in compliance with rules and controls required to scale and meet unique market requirements.
The new platform has been deployed in one of Interswitch Group’s technology hubs domiciled in Nairobi, Kenya, and will have the capability to process transactions for Interswitch clients across Africa, with localised instances for each country carefully tailored to meet clients’ unique needs.
27th June, 2022
The top eighty-one (81) students have emerged from the over 12,000 students vying for a spot in the finals of the fourth edition of the InterswitchSPAK National Science Competition. These students were shortlisted following the nationwide computer-based tests (CBT) that served as a basis for preogression into the competition.
InterswitchSPAK, a Corporate Social Responsibility (CSR) initiative of Africa’s leading integrated payments and digital commerce company, Interswitch, in its fourth year, continues to drive and reward interest in Science, Technology, Engineering, and Mathematics (STEM).
The CBT exams were taken in two stages: the first was taken from June 2, 2022, to June 5, 2022, and the second stage on June 8, 2022, trimming the number of registered participants from 12,014 to 500 and finally to 81. These 81 students who scaled the screening process are representatives of 13 schools.
Some of the schools whose students scaled through both the first and second rounds include Adedokun International School, Ota; The Ambassador College, Ota; Marist Brothers' Juniorate, Uturu, Abia; Faith Academy Canaan Land, Ota; Loyola Jesuit College, Abuja; and Mount Olive College, Anambra.
Others include Greater Tomorrow International College, Arigidi, Ondo State; Bofoat Model College, Ondo State; FUTA Staff Secondary School Akure, Ondo; Seolad International College, Ogun; Great Cornerstone International Science College, Ondo State; Apt Scholars Universal College, Ogun State; and Oritamefa Baptist Model School, Ibadan.
Speaking on the importance of InterswitchSPAK and the need to encourage and reward more students in Africa to take up STEM subjects, the Group Chief Marketing and Corporate Communications Officer, Interswitch, Cherry Eromosele, noted that Africans should play a more central role in mapping out the future of Africa.
Eromosele added that the continent was ripe for development at the same scale as observed in the developed world, adding that this development had been proven to be spurred by the knowledge and application of STEM.
She said, "InterswitchSPAK remains an integral expression of the belief we hold at Interswitch, which is that Africa's story can be changed from the inside out. And what this means is that only through the active participation of Africans can the change we seek come about.
"For this reason, we leverage the InterswitchSPAK National Science Competition, now in its fourth run, to encourage young Africans to find value in STEM subjects that have been identified as drivers of economic prosperity, something that we at Interswitch have seen firsthand."
Since inception, InterswitchSPAK has continued to champion the study of STEM subjects among students in Africa, as the competition has moved beyond a locally-organized initiative and has expanded to other parts of Africa such as Kenya in East Africa.
The InterswitchSPAK competition bestows on students rewards for their interest in STEM, with the first-place winner going home with N7.5 million in scholarships over a five-year period, a laptop, and monthly stipends. The second-place winner will go home with N4 million in scholarships, a laptop, and monthly stipends for a period of 3 years. The third-place winner will go home with N1 million in scholarship for a year, monthly stipends, and a laptop.
Last year's winners were Jubril Dokun of Brainfield College, Salolo, Lagos State, receiving the first prize; the second-place winner was Ayanlade Jesuferanmi of Obafemi Awolowo University International School, Ile-Ife, and Omoniyi Qudus of Scholars Universal Secondary School, Ota, Ogun State, came in third place.
In recognition of its sustained impact and defining contributions to the Fintech industry in Africa, Africa’s leading integrated payments and digital commerce company, Interswitch, has emerged as the Fintech of the Year in the 2022 African Banker Awards.
The award, which was presented in Accra, Ghana during the African Development Bank (AfDB) Annual Meetings, not only underscores Interswitch’s position as a leader in the Fintech space, it also reaffirms the company’s outstanding role in accelerating digital payment on the African continent and its contributions to the financial sector’s growth.
The African Banker Awards is a landmark annual event for the African banking sector, which takes place during the Annual Meetings of the AfDB. Organised by African Banker magazine and IC Events, in collaboration with Business in Africa Events, the African Banker Awards celebrate excellence and best practices in African banking and financial services. The Fintech of the Year category was unveiled this year with Interswitch bagging the inaugural award.
The theme for this year’s AfDB Annual Meetings was "Achieving Climate Resilience and a Just Energy Transition for Africa".
Commenting on the award, Cherry Eromosele, Group Chief Marketing and Corporate Communications Officer of Interswitch Group, said the company is elated to have been named the Fintech of the Year in the prestigious awards.
She said, “We are excited to have been recognised as the first recipient of the Fintech of the Year award by the African Banker magazine. This award will further spur us in our drive to continue providing cutting-edge solutions and innovations tailored to meet the unique needs of our esteemed customers across the continent.”
Eromosele added, “Our sincere appreciation goes to the organisers of the award, the African Banker magazine, for putting this together and honouring Interswitch. We also congratulate other winners across various categories.”
Interswitch has been at the forefront of driving innovation in the financial industry, facilitating payments and leveraging innovative technology solutions to shape the future of Africa.
The African Banker Awards committee added two new categories - FinTech of the Year and DFI of the Year to this year’s award - in recognition of Interswitch and other Developmental Finance Institutions’ transformational roles.
The African Banker Awards ceremony attracted top executives from the financial sector across the continent.
26th May, 2022
LeapFrog Investments (“LeapFrog”) and Tana Africa Capital (“Tana”) today announced a strategic investment in Interswitch, one of Africa’s leading technology-driven companies focused on digitisation of payments.
In furtherance of its commitment to STEM education, Interswitch is set to donate IT equipment to students in ten tertiary institutions across Nigeria, leveraging a partnership with Cisco Networking Academy.
Leading consumer digital payments platform, Quickteller, on Friday announced the selection of the top six (6) participants in its keenly competed musical talent hunt; Quickteller Barz and Notes.
Quickteller Business unveils Smart PoS, in furtherance of its commitment to enabling African businesses scale, leveraging technology that offers unified payment and business analytics.
Interswitch's eClat Healthcare Limited, an innovative health-tech solutions provider and a subsidiary of the Interswitch Group, has announced the relaunch of eClinic, a healthcare product built to address the challenges associated with medical records management in Africa.