Interswitch
Also a provider — view Interswitch’s profile →“Can a Nigeria-born switch become the payments infrastructure layer for pan-African commerce?”
Founded2002
HQLagos, Nigeria
FoundersMitchell Elegbe
IndustryInfrastructure / Payments
The story
Founded in 2002 by Mitchell Elegbe as a national transaction switch for Nigerian banks, Interswitch evolved from pure interbank infrastructure into an integrated payments platform via Quickteller (retail payments) and Verve (indigenous card scheme). Today it operates across payment gateway, card issuing/switching, cross-border payments, and lending orchestration — positioning as a pan-African payments infrastructure company.
Last 12 months
—
Product timeline
2002
Founded in Lagos as a transaction switching and processing company for Nigerian banks.· banking
2005
Launched Quickteller, a retail payments ecosystem linking merchants, billers, and consumers.· banking
2009
Launched Verve, an EMV-certified homegrown card scheme.· card
Regulated entities
1
regulatory licence held by Interswitch
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
5 layers disclosed in Interswitch’s embedded-finance stack
Payments / PSP
Interswitch Payment Gateway (self-operated)
Card issuing
in the full report
Card network
in the full report
Lending
in the full report
FX & payouts
in the full report
Accounting gap: none
6 more providers across 4 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.