Interswitch poised for expansion in Africa

Considering the phenomenal and remarkable growth of Mobile technology and the accelerated activities of the Information technology sector in the dark continent of ‘Africa’, Mobile integrated systems network ‘Interswitch’ says it is ready to expand its network in the continent.

This was part of the statements of the Chief Executive Officer of the Company, Mr Mitchell Elegbe as the Group marked its 10th year Anniversary in operations.
He was proud to say that Interswitch was the first Nigerian company to offer payment infrastructure and technology integration.

He Further stated that “We are a Nigerian financial services powerhouse, and with over 70 per cent of government and 90 per cent of private companies that rely on us for their monetary transactions, the company looks poised to venture into other African countries.”

Speaking further on the operational capacity of his Company, Mr Ellegbe said “Interswitch, through its Super Switch, provides online, real-time transaction switching that enables businesses and individuals have access to their funds across the 20 banks in Nigeria and across a variety of payment channels such as Automated Teller Machines (ATMS), Point of Sale (PoS) terminals, Mobile Phones, Kiosks, Web and Bank Branches.”

On the growth of its financial and market base, Mr Ellegbe highlighted that the Company which started with a financial base of N200 million can now boast of about N30 billion as its current resource base a tremendous development.

The company has also been instrumental to the Point of Sales technology transactions across the country, facilitating transactions through the ATM cards for Nigerian shoppers. Through the company today, there are 10,000 ATM stations, 12,000 point of sales locations and 400 online locations, as disclosed in the statement.

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