June 03, 2014/Punch

Pan-African integrated payments company, Interswitch, says it is committed to boosting the Central Bank of Nigeria’s cash-less policy.

A statement by the firm quoted its founder and Group Managing Director, Mr. Mitchell Elegbe, as saying this while expressing the firm’s plan to support the central bank as it embarks on nationwide rollout of the cash-less policy by July 1.

Elegbe praised the CBN for the successful implementation of the policy in Lagos, Abuja, Federal Capital Territory, Kano, Rivers, Ogun, Abia and Anambra states.

The GMD, who described the policy as the “cornerstone” of the nation’s economic development, said, “It is essential that all Nigerians, especially the young, can take advantage of new opportunities presented by strong economic growth. The cash-less policy is vital to realising this vision. It is the cornerstone of Nigeria’s economic development and will ensure that all are able to access modern payment and banking technologies.

“As the market leader in payment processing, providing companies and government in Nigeria with a transaction infrastructure, Interswitch has worked hard to ensure that the full benefits of the cashless policy are felt by the many and not just the few.

“We have strived to introduce ATMs and PoS terminals in towns and cities across the country. There are now more than 11,200 ATMs and close to 120,000 PoS nationwide. New online and mobile platforms are also allowing even the remotest of communities to share in greater prosperity.