• Home
  • Business
  • ProvidusBank, Mastercard, Interswitch launch Contactless Payment Solution

ProvidusBank, Mastercard, Interswitch launch Contactless Payment Solution

ProvidusBank together with Mastercard, Interswitch and Thales Group, have announced the introduction of a new Tap-to-Pay service. This launch is in an effort to further reduce dependency on cash transactions, stimulate innovation and drive the growth of digital payments in Nigeria,

The service allows cardholders to make fast, secure, and convenient in-store payments by tapping their NFC enabled smart device at any contactless-enabled payment terminal.

Commenting on the launch, the Managing Director/CEO, ProvidusBank,Walter Akpani, said: “Technology has evolved greatly in sub-Saharan Africa in the last decade with the mobile phone technology playing a significant role in that space. As a bank, our collaboration with Mastercard and Interswitch to provide additional value through the mobile device is a strategy to leverage existing infrastructure, while delivering simplified payment through their advanced digital and tokenisation services.”

Also commenting, the Country Manager and Area Business Head, West Africa at Mastercard, Ebehijie Momoh, said: “The convergence of physical and digital commerce is not in the future, it’s happening now. At Mastercard, we understand that consumers want to make digital payments when, where and how they want, with the same protection and security offered with a physical card.”

Managing Director, Interswitch Purepay, Akeem Lawal, said: “With the increasing adoption of digital payments, there has been the corresponding need for players in the payments ecosystem to heighten the safety and security of payment platforms and channels.”

Related Posts

Ghana: SSNIT urges potential entrepreneurs to join SEED programme

Women and young entrepreneurs have been advised to enrol in the Social Security and National Insurance Trust- Self-Employed…

Nigeria: Regulatory reforms to bolster fintech ecosystem – PalmPay CEO

The Managing Director of PalmPay, Mr. Chika Nwosu, has emphasized that the Central Bank of Nigeria’s regulatory policies…

Kenya: Choice Microfinance Bank spearheads digital transformation through inventive strategies

The banking industry is experiencing significant transformation driven by the digital revolution and evolving customer demands in today’s…

Nigeria: NNPC, Schlumberger forge agreement to enhance upstream operations

The Nigerian National Petroleum Company Energy Services Limited (EnServ) and Schlumberger (SLB) has solidified their collaboration by signing…