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Interswitch Bags Award for Innovative Payment Processing

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Interswitch Transnational, a leading Pan-African integrated payments company with operations in Nigeria and a growing presence in West and East Africa, announces that its Verve and QuickTeller solutions have emerged as winners in the Retail Payments and Product & Services Innovation categories at the 2014 ACI Excellence Awards.

These are the fifth annual Excellence Awards held by ACI Worldwide, a leading international provider of electronic payment and banking systems.

The Awards celebrate leading financial institutions, processors and retailers, for their innovative and transformative uses of ACI solutions to solve real-world customer and business issues.

The winners across ten categories are selected by a judging panel composed of ACI experts and leading global payments analysts from Aite Group, CEB TowerGroup and Celent, and are based across the Americas, the Asia Pacific region, and EMEA. This year there were a total of thirty submissions across the ten categories.

Interswitch is one of only two organizations to receive more than one award. Interswitch’s Verve card, Nigeria’s leading payment card, has received the Retail Payments Excellence Award, in recognition of the way it has changed the electronic payment landscape in Nigeria.

The panel noted that, ‘prior to the emergence of electronic payments in Nigeria, transactions were carried out primarily through cash, posing significant financial challenges to businesses and individuals’, something which Verve has helped to alleviate, allowing Nigerians to pay their bills, transfer funds and pay for goods and services at any time, from any channel.

QuickTeller, Interswitch’s Value Added Service platform, which provides customers with access to vital services such as phone top-up, bill payment, cash withdrawal, funds transfer and cashback through ATMs, POS, the web, mobile phones and kiosks, has been recognized with the Product & Services Innovation Excellence Award. The panel especially praised the way in which QuickTeller has enabled streamlined bill pay for customers and bill payers.

Mitchell Elegbe, group managing director and chief executive officer, Interswitch Transnational Holdings, said: “We are delighted by this recognition from the judging panel of the ACI Excellence Awards. Verve is the leading payment card in Nigeria, beating off established international payment rivals, such as MasterCard and Visa, and is increasingly accepted across Africa and around the world. This award recognizes Verve as an industry-leading international payment product.

“We are equally proud that QuickTeller is this year’s winner of the Product & Services Innovation Excellence Award. QuickTeller provides thousands of customers with access to essential services and we are delighted that the ACI panel has chosen to acknowledge its success in this way.”  

Dan Frate, group president, Strategic Products & Global Markets, ACI Worldwide, said: “The record number of Excellence Awards submissions we received this year truly exemplifies the rapidly-evolving global payments industry, and on behalf of everyone at ACI, I want to extend congratulations to this year’s winners and finalists. They are achieving tremendous success for their organizations and countless benefits for their customers. All of these organizations epitomize innovation and great work—from advancements in online and mobile banking to fraud prevention to significant improvements in end-user experience and much more, we’re proud to call them our customers and look forward to their continued success.”


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Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

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Broadcasting

FG to Gift Nigerians over 100 Free TV Channels from May 15

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National Broadcasting Commission (NBC) is set to launch so-called  FreeTV, with over 100 channels for news, sports, education, entertainment and children’s programming in multiple Nigerian languages.

FG to Gift Nigerians over 100 Free TV Channels from May 15

The launch is scheduled for  May 15.

Charles Ebuebu, director-general, NBC, who disclosed this, said the new platform will offer free-to-air access with no carriage fees, leveraging hybrid satellite and internet delivery via NigComSat-1R.

The new plan is not an upgrade, the NBC stressed. This is a rebuild, according to Ebuebu .

FreeTV will be true free-to-air – no encryption, no set-top box barrier.

Any DVB-T2/S2 television will work. A mobile app will extend reach to phones and tablets.

The platform will launch with over 100 national, regional and state channels across sports, news, children’s programming, education, entertainment and cultural content in Hausa, Yoruba, Igbo, Tiv, Ijaw, Edo, Fulfulde, Ibibio, Efik and Nupe – all in HD.

Crucially, the NBC has partnered with a Bulgarian firm, GARB (operating since 2006 and recognised by the European Broadcast Union), to deliver a 94 per cent-accurate audience measurement system using return-path data, app analytics, demographic panels, and Artificial Intelligence (AI).

To qualify broadcasters, must commit their channels, produce a minimum of 60 per cent local content, and promote FreeTV until January 2029.

After that, a regulated tiered rate card takes effect.

According to NBC, the strategic rationale is simple: build viewers first, monetise later.

The document further revealed that six regional production hubs in Lagos, Abuja, Port Harcourt, Enugu, Kano and Benin would function as local content factories, expected to generate 500 to 1,000 jobs per zone within two years.

 


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General News

FG New Approves Biometric Passenger Verification System for Airports Security

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Federal government has signed a concession agreement for the deployment of a contactless biometric passenger verification system across Nigeria’s domestic airports.

FG New Approves Biometric Passenger Verification System for Airports Security

The initiative, known as VPASS, is designed to strengthen aviation security, improve data integrity and boost revenue generation.

Festus Keyamo, minister of Aviation and Aerospace Development, said the agreement followed the concurrence of the Infrastructure Concession Regulatory Commission, the Attorney-General of the Federation and approval by the Federal Executive Council.

 

Keyamo said the system will eliminate discrepancies in passenger records, curb unauthorized boarding and ensure all domestic air travellers are properly identified, closing existing gaps in standard identification procedures.

 


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General News

STBMAN, NBC Bicker over Alleged Due Process Breaches

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Association of Licensed Set-Top Box Manufacturers of Nigeria (STBMAN) has waxed worriedly over the National Broadcasting Commission’s (NBC) repeated violations of due process in managing the country’s Digital Switch Over (DSO) project.

STBMAN, NBC Bicker over Alleged Due Process Breaches

In a statement released in Abuja, Sir Godfrey Ohuabunwa, chairman,  STBMAN, stated that the NBC’s actions are slowing down Nigeria’s transition from analogue to digital broadcasting and discouraging local investors who have committed resources to the project.

Ohuabunwa noted that Nigeria began serious discussions on DSO in 2008, yet 17 years later, the country has made little progress, while nations that once sought Nigeria’s assistance have completed their own transitions.

“STBMAN has repeatedly called for the protection of local manufacturers, strict compliance with the federal government’s White Paper on DSO, and full respect for the rule of law, but these calls have been ignored,” Ohuabunwa said.

The NBC’s alleged plan to import hybrid set-top boxes from China has been criticized by STBMAN, which says this move disregards the heavy investments already made by licensed Nigerian manufacturers and contradicts the President’s directive to prioritize locally made products.

“The manufacturers have invested in equipment, technology upgrades, and workforce training, expecting government support and policy stability,”he added.


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