Over the years, there have been challenges of payment infrastructure in commerce companies operating in Nigeria. However, the technological revolution has brought a list of payment methods that are promising to bring to solve this challenge. For example, digital payments have come in to facilitate an automated flow of cash between people and companies. Among the leading companies in this industry is Interswitch, which uses the technology to build and manage payment infrastructure, and thus delivers innovative payment services.
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In this article, you will learn more about Interswitch, how it works, and casinos using their payment services.
What is Interswitch?
Interswitch is a company that had the genesis of its operation in 2002, offering transaction shifting and payment automation solutions. It has focused on integrating digital payment and commerce in Africa with set standards and policies that guide its consistency. The company prides itself with strong competence in the provision of safe and highly reliable infrastructure and solutions at affordable pricing.
How does it work?
Interswitch offers financial organizations a leading, inclusive platform that they outsource and ride on to manage their client transactions. This platform enables the financial institutions to integrate on the shared resource by connecting securely with their infrastructures like the ATMs and POS. These Clients are also provided with functionality to authorize transactions after connecting to hosts. Additionally, the brand also has an internet payment gateway that is integrate-able with eCommerce sites, online betting platforms, and mobile payments.
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Interswitch Webpay in Nigeria is compatible with gambling sites by providing online casino payment options to companies such as Naijabet. The company is now giving payment methods that clients can use to deposit and withdraw in Nigerian online casinos through Webpay, EFT, Quickteller, and Verve.
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Transactions are the backbone of all businesses. Technology has upscaled the finance infrastructure to improve the services offered by banks. Through Interswitch, a cashless, convenient, and well-drawn interchange among African countries has become a reality. Gamblers, too, have an advantage of deposition and withdrawal of funds through a list of payment methods like Webpay, Quickteller, and Verve Interswitch, proving to be among market champions in the money transfer industry and also by partnering with banks.