Interswitch Hits Record-Breaking 1.2billion Transactions In March


One of Africa’s leading financial technology and integrated payments solution providers, Interswitch has announced its new milestone achievement as it passed 1.2 billion transactions in March 2023.

According to the fintech company, the record is the highest it has ever processed in a single month in the country. It attributed the increase in transactions to the Federal Government’s naira redesign policy.

Commenting on the increase, the Founder and Group Managing Director of Interswitch, Mitchell Elegbe, said, “We are thrilled to have processed 1.2 billion transactions in the month of March in Nigeria alone.”

“This milestone is a testament to the trust that our customers have placed in us and our commitment to delivering innovative and secure digital payment solutions across Nigeria and beyond.”

“This milestone is one that was made possible by our proactive investment in cutting-edge technologies that truly power the financial landscape. As we continue to grow and expand our operations, we remain committed to driving financial inclusion and helping businesses and individuals unlock the full potential of digital technologies.” He added.

He noted that the success underscores the hard work and dedication of employees of Interswitch and highlights the fact that the firm is on the right track to achieving its set objectives.

Interswitch is poised to continue its growth trajectory by expanding its product offerings, deepening its partnerships, and investing in innovative technologies that propel the growth of digital payments in Africa and beyond.

The firm also disclosed that it had to scale its operations to handle the increase in transactions as there has been an increase in electronic transactions since the Federal Government’s redesign policy resulted in the scarcity of cash.

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