By Toyosi Olajide
Interswitch, an Africa integrated payments and digital commerce company, has pointed out the role of its various platforms such as Quickteller, Quickteller Paypoint, Verve, Interswitch Payment Gateway, and Application Payment Interface (API) Marketplace, play across ecosystems, as well as financial services, health, payment, lending, transportation, and e-commerce to the fintech ecosystem.
The company also identified some of the challenges faced by customers during financial transactions across different payment channels but blamed some of the challenges on the wide gap that exists in consumer education which often leads to loss of money that could have been avoided if the customers have better knowledge of funds transfer and financial savings.
This awareness was made known by Interswitch at a media interactive session in Lagos while providing a clearer perspective on its various payment platforms and future projections.
The Group Chief Marketing and Communications Officer, Interswitch ltd, Cherry Eromosele, in her opening speech described Interswitch as a pivotal and strategic enabler of the African Fintech ecosystem, identifying its crucial responsibility in sustaining businesses through its payments infrastructure leveraged by players across sectors of the economy.
According to her, “In support of our mission to inspire Africa to greatness, Interswitch Group has continued to push the boundaries of innovation to deliver payment solutions that enable commerce across Africa. In keeping with this goal, we have naturally taken the role of an enabler in the Nigerian Fintech ecosystem, a duty we have accepted with a deep sense of responsibility, fully realizing that several of our platforms form the framework on which many players in the ecosystem have built their offerings. While we remain focused on this goal, we cannot underestimate the key role that the media play as our partners, actively supporting and helping to frame our narratives in the minds of our customers and the public.”
Identifying some of the infrastructural challenges in the payment industry, the Managing Director, Payment Processing and Switching of Interswitch Purepay, Akeem Lawal said: “Although infrastructure has been a challenge in the payment industry, the situation has improved over the years and Interswitch has the capacity to meet customers growing needs”.