The Founder and Group CEO, Interswitch, Mr Mitchell Elegbe has stated that the introduction of the 5G technology would go a long way in enhancing digital payment in Nigeria and boost the ecosystem.
Speaking at the kick-off of the company’s anniversary media parley, held in Lagos, on Tuesday, Elegbe believes the new technology would bring about further innovations, and products, otherwise thought impossible in the immediate period.
He added that one of the reasons for the company’s compelling growth trajectory, in the last two decades, remains its readiness to leverage new techs to further enhance the nation’s digital payment space.
Elegbe noted that the new 5G technology would provide the company, the opportunity to fast-track the unveiling, in the not-too-distant future, some of the products and services it had planned for the next two years.
He attributed the company’s success story to its robust business model, the regulatory environment, and the teeming customers of the company that had patronised the company, and trusted it with their data.
The Interswitch’s boss however believes that, despite the obvious growth in the nation’s digital payment ecosystem, there are still opportunities waiting to be explored in the space.
“For instance, only 20 per cent of payments are still done digitally. And, until we all come on board until we go online to subscribe to an insurance scheme until we all go online to pay our taxes until every sector of the economy is digitised, I will say we still have a long way to go, regarding digital payment system, in the country,” he added.
Elegbe added that the company would begin a series of activities, which would involve the unveiling of new products, as part of activities to mark its 20th-anniversary celebration.
One of such, he added, is a new brand campaign, launched by the company to project its positioning as a pioneer of digital payments in Nigeria, and also demonstrate its commitment to pushing boundaries and facilitating new ecosystems.
“As we flag off our celebrations, there is quite a lot of excitement within Interswitch, but also some deep reflection as we look back on the journey of the last two decades of transforming Africa’s digital economy.
“Interswitch was founded to solve a social problem – to make people’s lives easier when it came to payments, transactions and accessing their funds.
“We saw a way to do this by developing products and services with the consumer at the heart, leading with technology and innovation. At those times, the big picture kept us going, our dream to deliver a prosperous Africa, driven by a seamless exchange of value and commerce,” he stated.
Capturing the essence of Interswitch’s new ‘Never Stop’ campaign, the Executive Vice-President for Group Marketing and Communications, Cherry Eromosele, stated that the new campaign provides the company with the opportunity to stop, and reflect on its journey of the past two decades, and launch out again with fresh passion, a renewed zeal and a clearer vision.
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