One of Nigeria’s e-payment leading player with critical mass in Africa’s rapidly developing financial ecosystem, interswitch, is putting all hands on deck towards ensuring that they serve the African business space to its fullest capacity.
Interswitch, active across the payments value chain, providing a full suite of omni-channel payment solutions, might be considering going into full banking operations in the near future if it decides to despite having the capacity to do so.
With its existence and quality services through the years, there is no doubt that the e-payment solution provider is capable of handling banking activities considering its creative workforce.
At a recent media interaction held in Lagos, Managing Director, Payment Processing and Switching at Interswitch Purepay, Mr. Akeem Lawal, while responding to questions, noted that the company has no intentions of applying for license for Payment Service Banking (PSB).
In his response on interswitch going into full banking, he said, “Yes, we thought about it, we also thought about Mobile Money but the role we play is more of an enabler. Right now, we are providing services to all payment service banks and financial technology companies.
“We have created a platform to let them provide these services. Our role has made it possible to do without interference.”
Knowing the importance of transacting business, Lawal stressed that rather than go into banking, Interswitch will see how to carve a niche in the sector to make them unique.
“We may look at it in the future. If we do, we will look at it from a niche angle – one that nobody is exploring.
“For now, we see more partnerships as we continue to offer these services to our clients through our many products.”