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Driving Digital Payment Growth: Perspectives from Interswitch at CeBIH 2023

Although the 2023 Committee of e-Business Industry Heads (CeBIH) annual conference has come to an end, echoes of the insightful conversations and the exchange of forward-thinking ideas continue to linger. A notable highlight from the conference was the appeal from financial stakeholders for collaborative efforts to enhance and drive the growth of digital payments in Nigeria.

This year’s conference, themed, ‘Driving Market Expansion through Ecosystem Collaboration’, emphasized the importance of joint efforts in driving economic growth and prosperity.

In line with its commitment to enhancing collaboration as well as driving the growth of digital payments in Africa, one of Africa’s leading integrated payments and digital commerce companies, Interswitch featured as the premium sponsor of the 2023 annual conference of CeBIH.

Speaking during the event, Akeem Lawal, Managing Director, Payment Processing and Switching (Interswitch Purepay), stated that mutual partnerships help shape the financial industry and position industry players for emerging technologies and future disruptions.

He noted that digital payment has evolved globally, and it has become imperative for financial players to leverage collaboration to co-create products for growth and profitability. He expounded on Interswitch’s efforts in collaborating with other players in the industry to drive economic prosperity.

In the interest of strategic associations, Interswitch recognizes the impact of supporting initiatives such as the CeBIH conference, where salient issues regarding the advancement of the financial ecosystem and related matters are identified and brought to the fore. Its appreciation of the platform is consolidated by its premium sponsorship of the 2023 event.

The company’s forward-thinking approach to topics such as collaboration, financial inclusion, modernization, and value financing aligns with its vision to propel growth across Africa.

Furthering Interswitch’s commitment to payment advancement and consolidation, Susan Fasipe, Head of Retail Payments at Interswitch, delivered an insightful paper where she delved into the dynamic landscape of payment modernization trends, elucidating on the transformative impact of evolving consumer expectations and technological advancements.

Fasipe emphasized the importance of continuous innovation in the payment sector, highlighting the role it plays in meeting the ever-changing demands of customers. Case in point is the newly developed Interswitch Enterprise Payment Platform which enhances business development and provides seamless payment solutions to customers across Africa.

Similarly, Paul Ohakim, Vice President, Issuing & Acquiring Management, Verve said Verve recently designed the Verve Ultra card product to provide banks, microfinance banks and merchants with credit facilities to solve their customers’ urgent needs.

He highlighted the Verve Ultra card’s value proposition such as the contactless payment capability, and a 45-day interest-free period among other benefits, reaffirming Verve’s commitment to enhancing financial inclusion and enhancing the overall experience for cardholders.

The event ended on a high note as Mitchell Elegbe, the founder and GMD of Interswitch Group was awarded with the 2023 Payment Industry Lifetime Achievement Award in recognition of his outstanding contributions to the financial industry since inception.

As participants reflected on the event marked by intriguing debates and strategic networking, the consensus was clear., through such ecosystem collaborations, the financial industry can effectively address and overcome the complexities of today’s financial environment.

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