CBN names Interswitch as most efficient Third Party payment processor

The Central Bank of Nigeria (CBN) has named Interswitch Transnational, Nigeria’s Most Efficient “Third Party” Payment Processor and Financial Technology Partner of the year.

The double recognition took place at the recently concluded Electronic Payment Incentive Scheme (EPIS) Awards organized by the CBN and Nigeria Inter-bank Settlement System (NIBSS).

 Reflecting on the award, The Divisional CEO, Switching and Processing, Interswitch, Akeem Lawal remarked,


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 “This is yet another achievement we are proud of, coming on the heels of similar recognition last year; our commitment to providing innovative transaction solutions across various industry sectors is motivated by our strong desire to facilitate intuitive exchange which is key to economic development. We will continue to breed relevant inventions for our society to ensure seamless and efficient transactions. Our sincere gratitude to our customers who have made our success possible; they are part of our success story and are very important to us”.

It can be recalled that last year, during the maiden edition of the EPIS awards, Interswitch also bagged multiple awards including most efficient Payment Processor, most efficient Payment Terminal Service Provider (PTSP) and most efficient Payment Terminal Application Developer (PTAD). This recent recognition further buttresses Interswitch’s pedigree in e-payment and innovation.

The EPIS Awards was created to identify, reward and celebrate financial institutions, merchants and other stakeholders in the electronic payment space for great work done in promoting and expanding the use of electronic payments in Nigeria.

Speaking about the awards, the Deputy Governor, Operations Directorate, CBN, Mr. Adebayo Adelabu stated that;

“We are delighted and proud to recognize, encourage, appreciate and reward financial, non-bank and other stakeholders in the EPIS that have been driving the electronic banking channels in Nigeria.”

The growth of the Fintech industry in Africa has fostered a global recognition, creating more opportunities for entrepreneurs and start-ups to explore the space, leveraging technology, innovating and effectively boosting employment opportunities in emerging economies.

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