Interswitch Limited is putting the emphasis on security in the payments ecosystem in partnership with Providus Bank as part of efforts to promote a safer, more inclusive payments ecosystem. Jonah Adams, Managing Director, Digital Infrastructure and Managed Services, Interswitch Group, explained that the collaboration that birthed the tokenization was crucial because it opened up a world of possibilities in the payments ecosystem, not only in Nigeria but in all of Africa. He was speaking at the unveiling of the tokenization solution jointly developed by Interswitch, Providus Bank, Mastercard, and Thales.
He said that the tokenization approach would revolutionize the payment industry and impact merchants in West Africa and the sub-Saharan area, where daily transactions occur at the speed of thought.
According to Frank Atat, Divisional Head, eBusiness, Providus Bank, cooperation between significant stakeholders are still essential for enhancing payment convenience and lowering cyber dangers through the use of cyber technologies.
