…Rolls out 40m contactless cards across Africa
Interswitch is positioning itself at the forefront of Africa’s digital payments revolution with a strong bet on tokenisation, tap-to-pay, and cross-border payment infrastructure, signalling a decisive shift toward frictionless, secure, and interoperable financial systems across the continent.
Vincent Ogbunude, chief executive officer, Verve International at the grand finale of TechConnect 5.0, on Tuesday, in Lagos, unveiled a suite of emerging technologies that, he said, will redefine how Africans experience payments and strengthen the region’s financial backbone.
“Interswitch has already crossed the 100 million-card milestone in Nigeria. But we know the future is digital. We’re now enabling users to digitise their cards, store them on mobile devices, and make secure tap-to-pay transactions,” Ogbunude averred.
The company’s push into tokenisation, is designed to secure payments while powering innovations such as contactless transactions, mobile wallets, and cross-border interoperability.
According to Ogbunude, Interswitch’s newest platform tackles one of Africa’s most persistent challenges: payment fragmentation, adding that, “Our cross-border payment infrastructure enables seamless transactions and settlements across multiple African markets. That means cardholders can access their funds anywhere on the continent, without friction or delays.”
He disclosed that Interswitch has already rolled out over 40 million Verve cards with contactless functionality, a move expected to accelerate the adoption of tap-to-pay solutions in key markets such as Nigeria, Ghana, Kenya, and Côte d’Ivoire. “We are actively engaging merchants to embrace this technology. It is faster, safer, and globally compatible.” Ogbunude stated.
From tokenisation to cross-border interoperability, Interswitch’s latest technologies aim to eliminate barriers that have historically hindered Africa’s digital commerce. The company believes that by combining compliance, trust, and collaboration, Africa can leapfrog into a unified payment future.
“Trust is the true currency of fintech. If I don’t trust you, I won’t transact with you. Compliance and standardisation are what build that trust and that is the foundation of Africa’s payment future,” the CEO affirmed.
The Lagos edition marked the final leg of the TechConnect 5.0 tour, which previously held sessions in Enugu and Abuja, each exploring different facets of Africa’s payment transformation. Themed “United Frontiers: Powered by Innovation, Collaboration, and Compliance,” the event convened regulators, banks, fintechs, and ecosystem players to address how innovation and compliance can co-exist in a fast-evolving digital economy.
Akeem Lawal, managing director, payment processing and switching, Interswitch Purepay, stressed that the company’s philosophy places compliance at the heart of innovation. “You cannot build sustainable innovation without compliance. It is the foundation of trust, customer experience, and long-term growth. Many see compliance as a checklist; we see it as guardrails that make innovation sustainable,” Lawal said.
He added that Interswitch’s goal is to create a united frontier where regulators and innovators work together to build products that enhance financial access and inclusion.
Cherry Eromosele, executive vice president, marketing and corporate communications, Interswitch, said the TechConnect series had become a platform for turning dialogue into action. “Each edition has provided valuable insight into how we can deepen inclusion, align regulation with innovation, and foster collaboration. These insights now shape our strategy and ecosystem partnerships for the year ahead,” she said.
