Interswitch Group

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Interswitch Group

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About Us

Interswitch’s broad network and robust payments platform have been instrumental to the development of the Nigerian payments ecosystem and provide Interswitch with credibility to expand across Africa.​

Today, Interswitch is a leading player with critical mass in Africa’s rapidly developing financial ecosystem and is active across the payments value chain, providing a full suite of omni-channel payment solutions. ​

 

History

Interswitch was founded in 2002 by Mitchell Elegbe.

In 2010 two thirds of the company was sold to a consortium led by Helios Investment Partners. In 2011 Interswitch took a 60 per cent stake in Bankom in Uganda.

In 2013 Interswitch entered into an agreement for payment processing with Discover Financial Services.

In September 2014 the company acquired a majority shareholding in Paynet Group, an East-African payments provider.

In 2015 Interswitch launched a $10m investment fund for African start-ups in the payments sector.

In February 2018, Interswitch unveiled its SPAK National Science Competition to promote and reward excellence in Science, Technology, Engineering and Mathematics in Nigeria

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