Electronic payment technologies provider Verifone Holdings has secured an important contract with transaction switching and electronic payment processing company InterSwitch Nigeria, which will enable interbank electronics payments for Nigerian cardholders.
VeriFone’s GPRS-enabled Vx 610 payment systems are being rolled out nationwide to InterSwitch’s bank and merchant customers. The RoHS-compliant Vx 610 GPRS wireless system delivers reliable, high-speed performance, advanced functionality and ease of use, without tying customers to a fixed location.
InterSwitch is a leading player in Nigeria’s e-payment industry. The agreement will allow any Nigerian cardholders to use their Nigeria debit cards, cash cards and other payment cards issued on the InterSwitch platform at ATMs and point of sale devices deployed by banks other than their own.
At present, InterSwitch has an online real-time integration to 23 out of the 25 banks in Nigeria. This infrastructure allows almost all of the country’s banks to share ATM and point of sale systems.
Nigel Bidmead, managing director for VeriFone EMEA, said: VeriFone’s advanced GPRS technology payment systems are especially suited to Nigeria’s large developing payments markets, where a constant online communication channel between the merchant and InterSwitch is the key to fast and secure transactions.