Interswitch
Connecting Africa to a world of possibilities
4(60K+ reviews)
Founded 2002Lagos, NigeriaUsers
Powers 16+ banks
Rating
4/5
Founded
2002
KYC
Optional
About Interswitch
Interswitch is the backbone of Nigerian electronic payments, powering Verve cards, Quickteller, and payment processing for most Nigerian banks. Founded in 2002, it is one of Africa's oldest and most critical fintech infrastructure companies.
Features
Quickteller (bill payments)
Verve card network
Payment processing
Paycode (contactless)
Merchant services
Agency banking
Digital lending infrastructure
Cross-border payments
Fee Structure
| transfers | Varies (via Quickteller) |
| maintenance | N/A (infrastructure) |
| other | Transaction processing fees to merchants |
Pros & Cons
Pros
- Most established fintech in Nigeria
- Powers majority of bank transactions
- Verve network accepted everywhere
- Visa investment validates technology
- Quickteller widely used
Cons
- More B2B than consumer-facing
- Quickteller app could be more modern
- Transaction fees add up
- Not a direct banking competitor
Links
User Reviews
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