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NEWS & CURRENT AFFAIRS

The Nairobian

Paynet Group transforms to Interswitch

Sci & Tech

By Standard Reporter | Oct 28, 2015

Interswitch Group Managing Director Mitchell Elegbe and Bernard Matthewman, CEO Interswitch East Africa

NAIROBI, KENYA: Paynet, a multi-institutional payments provider has transformed to Interswitch East Africa after successful deal from Nigeria’s Interswitch.

Paynet started in Kenya in 2003 and is known for a number of innovations including building PesaPoint network of ATMs and agents in Kenya, linking ATMs with Mpesa and driving the adoption of EMV chip cards.

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“There is potential in Kenyan market with talents in the technology space, we expect to use these resources in providing efficient cash transaction across the East African region,” said Mitchell Elegbe, Interswitch Managing Director during the launch of new logo and brand.

“The new move is a statement of Interswitch’s position in the market and reflects ambition to continue to grow services across Africa,” he said.

Kenya becomes the second country where interswitch has rebranded its operations, after it unveiled new logo in Nigeria last month seeking to establish uniform brand values and identity across Africa. Interswitch operations in Uganda and Gambia will also rebrand before end of the year.

Commenting on the re branding exercise and new logo also launched in Nairobi Tuesday night, Bernard Matthewman, CEO-Interswitch East Africa said the bold yet simple design encapsulates the personality, drive and values of integrity and trust that are central to Interswitch brand.

“For our customers, partners and stakeholders, re-branding of our business to Interswitch comes at a time we are investing heavily in people, training and technology to ensure we position the business to deliver a greater range of services,” he said.

“Under Interswitch, we will enable faster transactions, innovation and even grdater value for our partners.”