Two decades ago, we launched out, armed with a BOLD vision, a strong desire to engineer change and a deep hunger to enrich the lives of Africans, but not much else. We didn’t set out to be the first, or to jump into a ‘thriving’ fintech space - in fact, fintech had not really emerged as a concept in Nigeria at the time.
We were determined to fix a nagging problem – to make people’s lives easier when it came to payments, transactions and accessing their funds. We saw a way to do this by developing products and services with the consumer at the heart, leading with technology and innovation.
In the words of Mitchell Elegbe, Founder & Group CEO at the anniversary kick-off media parley on Tuesday, 30th August 2022, “Today, as we flag off our celebrations, there is quite a lot of excitement within Interswitch, but also some deep reflection as we look back on the journey of the last two decades – twenty years of transforming Africa’s digital economy.
The partnership with PUMA was birthed as a result of both brands’ shared passion for fitness and is expected to yield a plethora of benefits for members of the VerveLife community including free PUMA merchandise, discounts on premium apparel and access to exclusive events.
As a company that gives back, Interswitch will reward 20 lucky customers with an all-expense paid trip to the Dubai concert to experience the electrifying performances by some of Africa’s biggest artistes, alongside other global stars.
Accepting the award, Elegbe, who was represented at the event by Ndifreke Nkose, Chief Strategy Officer at Interswitch Group, thanked the organizers of the awards ceremony, noting that the face of fintech in Nigeria and beyond continues to grow and evolve in tandem with changing demands.
Tokenization, in simple terms, is a process of substituting sensitive payment information with randomly generated numbers that are referred to as tokens. These tokens hide important credentials of customers such as home and email addresses, names, debit card numbers, and bank account numbers, among other sensitive data.
Interswitch and ACI are committed to driving digital transformation across Africa via the deployment of relevant digital, innovative Infrastructure and solutions that optimize business efficiency and drive customers’ growth and profitability.
Wondering how you can be one of the lucky winners? It's quite easy! To qualify for the promo, simply start transacting with your Verve card to increase your chances of winning. And if you do not have a Verve card from any of these banks: First Bank, Zenith, Access, Ecobank, FCMB, Union, Fidelity, and United Bank for Africa (UBA), you can request one from the branch closest to you.
Akeem noted that despite the growth of the financial sector, customers are yearning for more innovative and seamless payment solutions hence, players in the financial industry must work with one another to design cutting-edge solutions that speak to the needs of customers and further strengthen the financial industry.
The partnership was birthed following months of a collaborative effort by the CinetPay team, Verve’s joint partner bank in the West African Monetary and Economic Union (UEMOA), and various teams in Verve International and Interswitch Group.
The recognition was announced, following extensive research carried out by the consulting firm and published in a report themed “Nigeria DEI Report: An Assessment of the State of Diversity, Equity and Inclusion amongst the Leading Companies in Nigeria.”
On the 14th of July in Mbarara East Africa, we were pushing new frontiers in an area of extreme passion - financial inclusion for the underserved - right through to the heart of central London at the anticipated Fintech Week London.
As Nigeria's digital ecosystem expands, there is a need for more creative ways to tackle associated vulnerabilities. It is essential to increasingly allay customers’ fears as financial services gain more recognition and spread among the populace.
Developers and merchants that have been onboarded on Interswitch’s easy-to-integrate Application Programmable Interfaces (API) Platform will earn an income for the next five years through a dedicated referral system.
Over 1,000 women who attended the event networked and discussed ways to bridge the gender gap in the technology sector in Nigeria. They were also recipients of valuable resources geared towards fostering growth in their individual career pursuits and the scalability of women-run tech startups.
Interswitch's Chief Customer Success Officer, Oremeyi Adeola Akah, on the flagship panel discussion at the 10th Digital Africa Conference and Exhibition themed “Positioning Africa in the Global Tech Race" in Abuja, Nigeria's Federal Capital Territory.
Speaking at the launch, Chinyere Don-Okhuofu, MD, Interswitch Industry Ecosystems Division, explained that the Quickteller Transport Service is another step in the company’s continued commitment to provide its customers with convenient access to lifestyle and payment services.
Speaking on the partnership, the Chief Executive Officer (CEO), Verve International, Vincent Ogbunude, noted that the LAG ID card, a first of its kind in the country, will provide its holders a life of convenience, enabling residents to make transactions anywhere and at any time, while also enjoying the dual benefit of verifying their identities and also be able to readily access the various social amenities provided by the government.
During the course of the two-day event, Interswitch officially unveiled eight new products designed to address prevailing issues within the payment ecosystem, enhance business development and boost customer experience.
At the event, conversations revolved around the challenges with the Nigerian tax landscape for state governments, opportunities for revenue growth through tax digitization, and examples of regions benefitting from effective tax digitization. The participants were also engaged on the possibilities of revenue collection through automation as a means to ensure that revenue leakages are reduced.
Last week in Paris, we were at the EMEAPYMNTS Forum hosted by PYMNTS in collaboration with Le Monde, which took place at the scenic Pavillon Royal. Babatunde Okufi, Group Head for Business at #Interswitch Purepay (Transaction Switching & Payment Processing) featured in an insightful panel discussion featuring Ledger, sticky.io, Mercuryo and Interswitch Group.
In the month of July at Mbarara, Western Uganda, we opened a new chapter in our drive to accelerate Financial inclusion in East Africa, and scored some firsts for both Verve and Quickteller, as we successfully onboarded EBO SACCO as the first institution to adopt our cardless transaction solution.
Country General Manager, Peter Kawumi was invited to set the pace for a discussion about promoting a better understanding, stronger relationships and partnerships between fintechs and the banking fraternity.
Our Country General Manager, Peter Kawumi, honoured an invitation by the Bank of Uganda and the Ministry of Finance Planning and Economic Development to moderate a power panel on digitalization of financial services and Digital Financial Literacy (DFL) as tools for enhancing Financial Inclusion with special focus on the last mile client.
In the first few weeks, interns will undergo knowledge-sharing and technical sessions to gain the skills necessary to become part of a larger team. Working on real-life projects to support the organisation, the programme provides interns with the opportunity to gain direct practical experience with Interswitch Group.
As an organisation that values the contributions by interns, we are committed to empowering them to become their best and transform Africa with their skills and capabilities.