Home Technology CBN, Interswitch Collaborate To Promote Digital Payment System

CBN, Interswitch Collaborate To Promote Digital Payment System

The Central Bank of Nigeria has partnered with Interswitch payment ecosystem to boost the digital payment system in Nigeria.

This was revealed by the Director, Payment System Management Department, CBN, Jimoh Musa, at a two-day event tagged ‘Collaborating for industry growth and profitability’, by Africa’s integrated digital payment and e-commerce company, Interswitch Group

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The CBN Director said the bank’s responsibility is to stimulate growth while also creating an enabling environment where all the entrants could thrive and compete.

He said, “We understudy all the interoperable operations of each technology company, and all the participants generally. And from time to time, we bring all these entities together to dialogue to enable us to decide what the best industry practice is in relation to Nigeria’s payment ecosystem.”

According to a statement, industry players gathered to discuss how to strengthen the digital payment ecosystem and position Nigeria as a force to reckon with on the global payment landscape.

Speaking at the event, the Managing Director, Interswitch Purepay, Akeem Lawal, said Interswitch would continue to enter partnerships that would not only simplify payments, but also drive prosperity across the continent.

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He said “Interswitch is committed to partnering with stakeholders to continuously drive financial inclusion through its innovative products and solutions. These products reaffirm the company’s continued drive to improving Nigeria’s digital payments landscape through innovation and the development of first-rate solutions and infrastructure that address pressing needs in the payments ecosystem.”

He appealed to major firms in the industry to collaborate together and provide opportunities and solutions that would make digital payment safer and further drive profitability.

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