Interswitch Leads Africa’s Digital Payment Revolution with Tokenisation and Cross-Border Innovations
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Interswitch is positioning itself at the forefront of Africa’s digital payments revolution with a strong focus on tokenisation, tap-to-pay, and cross-border payment infrastructure. The company aims to create a frictionless, secure, and interoperable financial system across the continent.
Vincent Ogbunude, chief executive officer of Verve International, announced at the grand finale of TechConnect 5.0 in Lagos that Interswitch is introducing a range of emerging technologies designed to redefine how Africans experience payments and to strengthen the region’s financial systems.
Ogbunude stated that Interswitch has surpassed the 100 million-card milestone in Nigeria but is now focusing on digital solutions. According to him, users will be able to digitise their cards, store them on mobile devices, and make secure tap-to-pay transactions.
The company’s push into tokenisation aims to make payments more secure while enabling contactless transactions, mobile wallets, and cross-border interoperability.
Ogbunude explained that Interswitch’s latest platform addresses one of Africa’s biggest financial challenges — payment fragmentation. He said the company’s cross-border payment infrastructure now enables seamless transactions and settlements across multiple African markets, allowing cardholders to access their funds anywhere on the continent without delays.
He added that over 40 million Verve cards with contactless functionality have been rolled out, which will boost tap-to-pay adoption in countries such as Nigeria, Ghana, Kenya, and Côte d’Ivoire. The company is also working with merchants to encourage the use of this technology because it is faster, safer, and globally compatible.
From tokenisation to cross-border interoperability, Interswitch’s innovations are designed to eliminate the barriers that have hindered Africa’s digital commerce. The company believes that combining compliance, trust, and collaboration will help Africa build a unified payment system.
Ogbunude emphasised that trust is the true currency of fintech. He said compliance and standardisation are the foundations of that trust and essential for the future of payments in Africa.
The Lagos edition marked the final stop of the TechConnect 5.0 tour, which also visited Enugu and Abuja. Each session focused on different aspects of Africa’s payment transformation. The event, themed “United Frontiers: Powered by Innovation, Collaboration, and Compliance,” brought together regulators, banks, fintechs, and other stakeholders to discuss how innovation and compliance can coexist in Africa’s digital economy.
Akeem Lawal, managing director of payment processing and switching at Interswitch Purepay, noted that compliance is central to the company’s innovation strategy. He said that compliance should not be seen as a checklist but as a framework that ensures sustainable innovation and builds customer trust.
He added that Interswitch’s mission is to create a unified financial ecosystem where regulators and innovators work together to enhance financial access and inclusion.
Cherry Eromosele, executive vice president of marketing and corporate communications at Interswitch, said the TechConnect series has evolved into a platform that transforms dialogue into action. She explained that insights gained from each edition guide the company’s strategies and partnerships to strengthen inclusion, regulation, and innovation across the financial ecosystem.
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