Interswitch, the leading integrated payments and digital commerce company in Africa, has formed a strategic partnership with Equity Bank, one of East Africa’s top banking groups. The collaboration aims to offer faster and more affordable banking services to Equity Bank’s customers at over 650 Interswitch-enabled ATMs belonging to 17 local banks in Uganda.
This partnership follows the successful operations of Interswitch in Nigeria and Kenya, where Equity Bank’s ATMs will also accept bank cards from other participating banks and institutions on the Interswitch network. Additionally, Equity Bank will become an acquirer for Verve cards, expanding its card acceptance portfolio to include all Point-of-Sale (POS) machine locations and ATMs nationwide. Uganda is home to approximately 250,000 Verve card holders.
The partnership was recently unveiled in Uganda, and according to Peter Kawumi, the Country General Manager for Interswitch Uganda, it is an ideal and timely collaboration. Kawumi emphasized that for the past two decades, Interswitch has been providing technology solutions to African businesses, enabling them to offer accessible, seamless, and affordable banking services to their customers.
Kawumi highlighted the significance of this partnership, stating, “By joining the Interswitch network, Equity Bank will now benefit from the entire ecosystem, which includes all other financial institutions and their consumers in Uganda and across the region. In this way, Equity Bank has achieved two key things.”
Mitchell Elegbe, the Founder and Group Managing Director of Interswitch Group, reiterated the company’s commitment to making payments more accessible, convenient, and affordable for Africans. He stated that the partnership with Equity Bank contributes to the interoperability efforts of the Ugandan financial industry and banking sector.
Equity Bank’s Managing Director, Anthony Kituuka, expressed his delight and pride in the rapid growth and expansion of the bank in Uganda over the past 15 years. With 50 branches, 7,000 Equi Duuka agents, and over 6,500 merchants, Kituuka believes that the new partnership with Interswitch will enhance the existing network, enable better customer service, and meet the financial needs of customers at their doorsteps.
The collaboration between Interswitch and Equity Bank signifies a significant step towards providing enhanced banking services to customers in Uganda, promoting financial inclusivity, and fostering greater interoperability within the country’s financial ecosystem
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