Interswitch Limited, a leading technology-driven company focused on the digitisation of payments in Nigeria and other countries in Africa, and American Express (AmEx), is pleased to announce a new partnership to expand the usage and acceptance of American Express Cards across Nigeria.
The partnership with Interswitch will enable American Express Cardmembers to transact using a wide range of merchants, who process payments through the Interswitch platform, for a range of travel, retail, hospitality and dining expenses, as well as ATM withdrawals. The partnership will also allow Interswitch to integrate its network of merchants in Nigeria into the global American Express network.
As part of the agreement, Interswitch will assume responsibility for managing American Express merchants in Nigeria, while bringing new merchants onto its platform. Previously, American Express Cardmembers could only use their cards at select locations across the country. This new partnership broadens that acceptance to Interswitch merchants, ATMs and websites nationwide.
Akeem Lawal, Divisional Chief Executive Officer for Payment Processing at Interswitch said: “AmEx and Interswitch are aligned in our desire to provide fast and secure payment solutions and transactions across Nigeria. With this new partnership, we are improving AmEx Cardmember access to a convenient and secure network, which also benefits our merchants who will gain new opportunities presented by an expanded user base. By remaining card scheme neutral, Interswitch will continue to explore innovative partnerships that will benefit consumers and retailers alike.”
(READ MORE: Interswitch Limited lists ₦23billion Bond on NSE
Lawal also reiterated the commitment of Interswitch to reliably cater to its valued merchants, to reinforce the Company’s mantra of ‘Transaction solutions you can depend on’. He recommended new merchants join the Interswitch platform, highlighting that the addition of American Express cards can help to expand their businesses.
Vivi Galani, Vice President & General Manager, Global Network Partnerships EMEA for American Express stated that the new partnership reinforced American Express’s role as a leading global network. She said: “We are excited to be partnering with Interswitch, a well-respected pan-African financial technology company, to continue to grow our presence in Nigeria. As we partner with leading banks and financial institutions around the world, we are bringing the powerful backing of the American Express network to Cardmembers and merchants by expanding acceptance of our Cards.”
ABOUT INTERSWITCH
Interswitch is a leading technology-driven company focused on the digitisation of payments in Nigeria and other countries in Africa. Founded in 2002, Interswitch disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services.
Today, Interswitch is a leading player with critical mass in Nigeria’s developing financial ecosystem and is active across the payments value chain, providing a full suite of omnichannel payment solutions. Interswitch’s vision is to make payments a seamless part of everyday life in Africa, and its mission is to create transaction solutions that enable individuals and communities to prosper across Africa. Interswitch’s broad network and robust payments platform have been instrumental to the development of the Nigerian payments ecosystem and provide Interswitch with the infrastructure to expand across Africa.
(READ MORE: DEAL: Visa to acquire 20% stake in Interswitch, valuing it at $1 billion)
ABOUT AMERICA EXPRESS
American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success.
Since 1997, American Express has partnered with a select group of leading banks and financial institutions around the world to issue American Express-branded products and acquire merchants on to the American Express merchant network. By leveraging its partnerships, global infrastructure and the powerful appeal of the brand, American Express has gained even broader reach for its network worldwide.
