Interswitch Group has reiterated its commitment and support to achieving simple and secured payment system. To achieve this, the company, at the weekend, launched innovative product offerings expected to boost the payment industry in Nigeria.
The new products will simplify digital payments and provide more secure payment solutions to financial institutions, Small and Medium Scale Enterprises (SMEs), merchants and their customers.
During the Interswitch TechConnect, the services unveiled include enhanced Biometrics feature for Point of Sale (PoS) terminals & Automated Teller Machines (ATMs); Tokenization, and Card Fusion, with the services addressing digital payment fraud, problems with card issuance and portfolio management.
Managing Director, Payment Processing & Switching (Interswitch Purepay), Akeem Lawal, stated that the company will continue to build cutting-edge solutions to enhance business development and provide seamless payment solutions to customers across the African continent.
READ ALSO: Why CBN Intervenes in Critical Sectors – Emefiele
He noted that the three services were designed to address prevailing issues within the digital payment value chain.
He said, “Interswitch is redefining the payment landscape in Nigeria, therefore we are committed to enabling the payment ecosystem that will drive the growth of businesses for economic prosperity. We designed the Biometrics on POS & ATM to heighten customers’ protection from digital payment fraud. Although this solution exists in silos where account holders can verify their identity within their financial institution’s ecosystem, the Interswitch Biometrics on POS & ATM service will enable different banks’ customers access their data and carry out payment transactions across various ATMs and PoS terminals.
“Our solutions have the capacity to be interoperable and scalable. With the Interswitch Biometric on PoS and ATM service, the Tokenization solution and Card Fusion services, payment service providers; acquirers, issuers and merchants can assure their customers of an added layer of security while carrying out a payment transaction.”
