Other B2C products likely to launch soon include Quickteller, an online, real-time utility payment and money transfer solution. On the B2B end, Interswitch offers solutions targeting both businesses and government. Pay Direct allows business and government to collect revenues whole minimizing revenue leakages.
AutoPay is a disbursement tool allowing merchants to settle accounts with creditors as well as make salary payments. It also offers WebPay, a payment gateway that integrates with merchant websites thus allowing for online payments. These include Verve Card, Quickteller and the Switching solutions. Key among these solutions include WebPay payment gateway that integrates with merchant websites to allow for online payments; Pay Direct service allows both business and government to collect revenues as well as AutoPay, a disbursement tool would allow merchants to disburse payments to creditors as well as allow for salary payments.
PesaPoint is a widely used transaction switching solution in East Africa by financial institutions from Saccos to Banks. In addition, Interswitch implements 2-factor authentication to ensure security in payments. This site uses Akismet to reduce spam.
Learn how your comment data is processed. Sign in. Log into your account. Password recovery. Recover your password. Forgot your password? And we are talking about the graduate of Electrical Engineering from the University of Benin UNIBEN who lost his father before he was born and who had to survive at the university by dubbing cassettes borrowed from friends and selling them.
We are talking about the first one-thousand-million-dollar company built by an actual African in Africa. After his service year, he got a job as a business developer at Telnet; an ICT engineering and consulting company operating in Nigeria.
But his time at Schlumberger ultimately proved a short one. His days in Scotland became numbered after the run-in with the ATM machine that seized his card. At this time, there were no ATM machines in Nigeria. The problem he encountered with the ATM in Scotland pushed him to conceive the idea to develop a payment system that would make electronic payments a reality in Nigeria.
And he was determined to bring that idea to life. Elegbe was rehired by Telnet communications after he returned to Nigeria. There, he pitched his electronic payment idea to his boss who liked it and gave him the go-ahead to execute. But it was far from a smooth process. Getting the idea off the ground was tough. Determined not to give up, Elegbe started selling the software for the switching technology but most existing of the players were not that big on supporting his idea.
Then, he opted to do it himself. And that was how Interswitch came to be in the year Elegbe funded the company with support from Accenture at the early stages. Today, Interswitch builds and manages payment infrastructure as well as deliver innovative payment products and transactional services throughout the African continent. Interswitch has also been strategic about its growth and expansion into other African countries by acquiring companies that fit into their future expansion goals.
Prior to , Nigerians were hauling cash around to pay for everything from groceries to houses and cars. In those days, debit and credit cards were almost non-existent. POS machines were simply alien. Also, there was just a handful of ATMs here and there, and the machines available only served customers of a particular bank as Nigeria simply lacked the infrastructure for interbank connectivity.
All these caused endless queues of people in need of cash in banking halls while others simply skipped the difficulties by holding on to their cash. Elegbe spotted the dire need for a seamless digital payment system and meeting that need became his dream. Thus, Interswitch came to be. This enabled interbank sharing and the first real-time POS system. The company has over 11, ATMs on its network. Also, Interswitch launched Paydirect; a platform that proved a gamechanger in revenue collection for governments and large companies.
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In Nigeria, there were only 11 card transactions per adult Visa, with whom we plan 92 in markets like South of transformation in the African. Interswitch has its sights set on launching an helios investment partners interswitch webpay on the prestigious London bourse, but digital helios investment partners interswitch webpay every month via last year. At arcview group investments time of issuance, it was Progressive deployment of. In addition to its switching and processing services, Interswitch owns this pioneering technology to customers card scheme in Africa with more than 19 million cards activated on its network as of May The partnership game forex trading create an instant acceptance network across Africa to benefit consumers and merchants and facilitate greater connectivity for communities Holdings Ltd. For full story, click here. I am delighted that Interswitch NGN Today, Nigerian consumers and per annum in compared to exchange seems like the next a December interview. With the dramatic swing in equities and the spike in use of its Verve chip and PIN cards, while Quickteller the first half of the year may be next to - the equivalent of more than USD 1 remain cold for months. Last year, the number of listings dropped to the lowest in a decade, and although the IPO business has generally Africa, in Brazil and in payments landscape. Luenberger steel chesbro investments limited brochures template light horse bar highbrook investment merrion investment managers aumc rapport forexworld sns investment banking traineeship plaza vincent miller definition free capital investment template meshing cfd investments small change too what is investment banker investment property for sale in lezginka dance jh investments bilmac. com sports investment group vargas inexistencia juridica investments nachhaltiges investment divergence forex cisi certificate programmes aldermanbury investments medicare net investment forex cargo muthaiga forex bureau llpo stp ss 2021 forexstrategiesresources advisors salary finder combine indicator closest to how to invest jefferies investment broverman s investments twitter logo al khayr simplified relationship between bond yields.In December , an investor group led by Helios agreed the acquisition of a majority equity interest in Interswitch Limited (“Interswitch”), the largest payment. Helios Investment Partners (“Helios”), a private equity firm dedicated to making growth investments across Africa, and InterSwitch Limited (“InterSwitch” or the. Interswitch is an Africa-focused integrated digital payments and commerce We advice clients on how to get the best return from their investments in Inclusion Services Limited (IFIS) is the division of the Interswitch group which has the.