Interswitch Partners NIBSS To Strengthen Nigeria’s Payment Infrastructure
11/15/24, 6:56 AM
Location
nigeriaIndustry
financial services
Type
partnership
Interswitch has announced a strategic partnership with the Nigeria Inter-Bank Settlement System (NIBSS) to enhance the efficiency and reliability of payment transactions across Nigeria, in response to a recent directive from the Central Bank of Nigeria (CBN). Managing director, Payment Processing and Switching (Interswitch Purepay), Akeem Lawal, expressed excitement about the partnership and its significance in advancing the payments industry in Nigeria.
Company Info
Location
nigeria
Additional Info
African payments company Interswitch has secured a $110 million joint investment from LeapFrog Investments and Tana Africa Capital to scale its digital payment services across the continent, the two private investment firms said in a statement Wednesday. In an interview that year, CEO Elegbe told TechCrunch that the company would pursue a dual-listing on the London and Nigeria stock exchanges. But since that isn’t forthcoming, the holding company has found an immediate alternative. At $1 billion (its last know valuation), Interswitch is one of Africa’s largest electronic payments and infrastructure companies.