In a recent press release on its website, Interswitch Nigeria Limited, a prominent African payments and digital commerce company, announced a strategic collaboration with Multipay Congo, a leading payments service provider in the Democratic Republic of the Congo (DRC). The partnership aims to enhance the payments landscape in the country by leveraging Interswitch’s technology to deliver secure digital payment solutions, addressing the evolving demands of the DRC market and promoting financial inclusion.
Multipay Congo, a pioneering fintech, introduced the first local interbank payment service in the DRC in 2015, collaborating with major banks such as BCDC, Equity Bank Congo, FirstBank DRC, and Rawbank. Interswitch Limited, established in Nigeria in 2002, operates across 14 African countries, facilitating electronic money circulation and providing various payment products and services to support business growth and individual prosperity.
Expressing his enthusiasm for the collaboration, Olivier Bueno, the Managing Director of Multipay Congo, stated, “We are delighted to partner with Interswitch Limited, another pioneer and leader in the African digital payment space. This partnership will enable us to continue pursuing our ambition to actively participate in the financial inclusion objectives of the Central Bank of Congo by developing innovative, accessible, secure digital financial products and services tailored to the needs of the population and businesses.”
He added, “By working with Interswitch, we leverage our local knowledge and skills to promote financial inclusion and economic empowerment, supporting the development of the digital economy in DRC and the region.”
Akeem Lawal, the Managing Director of Payment Processing and Switching (Interswitch Purepay), characterized the collaboration as mutually beneficial for both entities and the citizens of the Congo. He remarked, “We are pleased to enter this partnership with Multipay Congo to bring our transformative payment solutions to the Democratic Republic of the Congo. The partnership aligns with our overarching efforts to expand our footprint across more African regions, developing and deploying innovative solutions until payments are a seamless part of everyday life on the continent.”
As part of this partnership, efforts will be made to strengthen Interswitch’s presence in the DRC, one of Africa’s most populous and promising markets. Lawal added, “We look forward to working with relevant regulators and other financial service providers to jointly provide safe, reliable, and convenient financial services to individuals and businesses in the DRC.”
The collaboration’s overarching goal is to enhance financial inclusion, foster economic growth, and promote social development in the Democratic Republic of Congo, a country with a population exceeding 100 million and a GDP surpassing $40 billion. Interswitch, with its extensive presence in over 14 African nations, strategically reinforces its endeavors in the DRC. This partnership with Multipay Congo underscores Interswitch’s commitment to expanding its influence across Africa and globally, with a focus on advancing financial services accessibility and bridging the financial inclusion divide on the continent.
