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Interswitch completes third party payment processing integration with Visa
Interswitch Transnational’s Switching and Processing division (“Interswitch S & P”) has completed third party payment processing integration with Visa. What this means is that the company can now perform in-country switching and third party processing for all card brands including Verve (the domestic scheme) and international cards such as Discover, Visa, MasterCard, and UnionPay.
According to Mr. Akeem Lawal, Managing Director, Interswitch Switching and Processing, the integration was inspired by the desire of banks to consolidate their entire card schemes on a single trusted and reliable platform for the purpose of reducing costs to better serve their customers, improving service quality as well as creating access to Interswitch’s Quickteller.
“I am excited that with this integration agreement with Visa, we are the first processor to deliver the complete service that financial institutions have desired for some time – a robust, trusted and customer-centric platform that processes all cards. That we are kicking off our Visa processing service with contracts from four major banks with three others in advanced stages of discussion is a clear indication of how the market sees this achievement,” he added.
