Interswitch taps Uganda bank

Interswitch, an integrated payments and digital commerce company operating in Africa, has announced a partnership with Equity Bank, a leading banking group in East Africa. The collaboration aims to provide faster and more cost-effective banking services to Equity Bank’s customers at over 650 Interswitch-enabled ATMs across Uganda, which belong to 17 local banks.

Through this partnership, Equity Bank’s ATMs will now accept bank cards from other local participating banks and institutions on the Interswitch network, showcasing Interswitch’s operations in Nigeria and Kenya. Additionally, Equity Bank becomes an acquirer for Verve cards, expanding its range of accepted cards at Point-of-Sale machines and ATMs throughout the country. Uganda currently has approximately 250,000 Verve card holders.

Peter Kawumi, the Country General Manager for Interswitch Uganda, highlighted the significance of the partnership, emphasising that Interswitch has been providing technology solutions to African businesses for the past 20 years, enabling them to offer accessible, seamless, and affordable banking services to their customers. Joining the Interswitch network allows Equity Bank to benefit from an entire ecosystem that includes other financial institutions and their consumers in Uganda and the region, resulting in improved service quality and competitive advantage.

Mitchell Elegbe, the Founder/Group Managing Director of Interswitch Group, expressed the company’s commitment to enhancing payment accessibility, convenience, and affordability for Africans. The partnership with Equity Bank contributes to the interoperability efforts of Uganda’s financial industry and banking sector, reducing restrictions across inter-bank payment channels. Elegbe also highlighted Interswitch’s capability to support the expansion plans of partners in Nigeria and other countries into different regions, further solidifying their role in facilitating financial services across Africa.