Interswitched, a digital payment and commerce platform, has disclosed plans to bring in new innovative payment solutions which will help tackle cross border impediments and facilitate payment.
The company disclosed this at the recently concluded 4th edition of Interswitch TechConnect hosted recently in Lagos.
Akeen Lawal, managing director, Payment Processing and Switching at Interswitch PurePay, disclosed this while speaking on the company’s projections for the next decade,
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According to him, the company is creating new innovations driven by technology to put an end to these challenges in the coming decades.
“Today in Africa if you want to do business across borders, it is difficult because you first have to deal with currency issues, payment system infrastructure and lack of digital literacy but with our innovative technology, a lot of this problems is going to be solved,” Lawal said
According to the company, The TechConnect series has served as a powerful platform for advancing high-level discussions on technology, innovation, and financial inclusion, fostering collaboration across the financial services ecosystem.
Akeem, delivering his keynote address, highlighted the transformative potential of digital payment solutions
“At Interswitch, we are deeply committed to financial inclusion, recognising that digital payment solutions are pivotal in expanding access to underserved populations. By enabling broader participation in the economy, we believe we can create a rising tide that lifts all boats, empowering individuals, businesses, and financial institutions alike.
“Our vision is simple yet profound, to power a seamless, connected payment ecosystem across Africa, turning challenges in the payments landscape into opportunities for economic growth and shared prosperity,” he said.
The Payment platform also stated that the TechConnect series set a clear direction for future initiatives aimed at integrating technology and financial services across Africa, as they remain unwavering in its commitment to fostering partnerships, supporting innovation, and promoting financial inclusion to empower communities and drive economic growth.
The Lagos finale featured a dynamic fireside chat themed “Regulating New Technologies: Strategies for Innovation and Compliance, Harmonising Regulatory Frameworks and Risk-Based Approaches.
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The speakers emphasised the critical role of collaboration between regulators and industry players in navigating the rapidly evolving technology landscape. They also highlighted the importance of designing regulatory frameworks that balance innovation with compliance to create a sustainable fintech ecosystem.
Two panel sessions enriched the discussions at the event, offering diverse perspectives on critical industry topics. The first session, themed “Navigating the Future of Financial Services: Integrating Compliance, Technology, and Collaboration to Combat Fraud and Drive Growth,” focused on leveraging compliance, technology, and collaborative efforts to address fraud challenges while unlocking new growth opportunities.
The second session, themed “Building Financial Resilience: The Intersection of Commercial & Microfinance Banks, Fintechs, & OFIs in Fostering Growth within the Financial Services Sector,” explored strategies for fostering resilience and growth through synergy between financial institutions and fintechs.
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