According to a Nigerian paper Leadership, InterSwitch Limited, West Africa’s leading transaction switching and payment-processing company has announced the integration of Standard Chartered Bank to its network.
This new development makes InterSwitch the only transaction-switching network to have 100 per cent of Nigerian banks connected to it and the only Nigerian e-payment company to have real-time online connections to all the 24 banks in Nigeria. The banks on Interswitch’s network are: First Bank, United Bank of Africa, Zenith Bank, GTBank, Oceanic Bank, Skye Bank, IBTC Chartered Bank, Afribank, Wema Bank, Bank PHB, FCMB and Diamond Bank. Others include Union Bank, Access Bank, Intercontinental Bank, ETB, Ecobank, Fidelity Bank, Citi Bank, First Inland Bank, Sterling Bank, Spring Bank, Unity Bank and Standard Chartered Bank.
The paper reports that over 21 million debit cards have been issued by member banks, and over 4,100 ATMs, and 7,500 POS terminals deployed nationwide, as at February 2008.
Other competing payment transaction networks in Nigeria include ValuCard, Etranzact.
3 responses so far ↓
1 Ababoy // May 9, 2008 at 1:01 pm
There was a time when no one gave interswitch a chance. I once had dealing with them when they started and found them ‘on the money’. It just goes to show how far a good idea can take you.
2 Loy // May 11, 2008 at 2:09 pm
Interswitch’s success is laudable! I mean, their ability to connect all the Nigeria banks into real-time online payments, has boosted Nigeria’s online businesses (legitimate ones) and blogs that are looking for presence on the internet.
3 GoldOasis Blog // May 27, 2008 at 10:02 pm
Buy Domain Names & Web Hosting in Nigeria. Pay with an InterSwitch Debit/ATM card…
Residents of Nigeria may now use any InterSwitch card (CashCard or bank issued ATM card) to transfer payment to Web4Africa for any service they have ordered from Web4Africa including but not limited to: reseller web hosting, domain name registration, w…
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