">
TechMoran
  • About Us
  • Deals
  • Jobs
  • Motoring
    • Money
  • Pitch Your Startup
  • Submit Your Post
  • Freelance Gigs
  • Travel
  • Men’s Corner
  • Dating
Sunday, January 17, 2021
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
No Result
View All Result
TechMoran
">
Home Business

Interswitch Separates Verve & Switching and Processing Divisions Into Autonomous Businesses

Milcah Lukhanyu by Milcah Lukhanyu
8 years ago
in Business
4 min read
0

interswitchPan-African integrated payment processing and transaction switching company,  Interswitch has today separated its two core divisions: Verve International (“Verve”) and Switching and Processing, as separate, autonomous businesses.

According to Mr. Mitchell Elegbe, Group Managing Director and Chief Executive Officer of Interswitch Transnational Holdings; “It has always been our desire to evolve into an integrated payments holding business where the various parts of the business are driven to deepen and broaden their relationships with their various customers by creating innovative products and services of real value.  Creating the right governance structure to herald this new phase of sustainable growth has been the focus of the board and management in the last few months. I am elated that we have successfully completed this separation, which took effect from April 1st 2013.”

Verve  (the payment card solutions business) and Interswitch Switching and Processing (the transaction switching business) have been spun off as separate, autonomous businesses. According tot eh company the separation is driven by Interswitch’s strategy to orchestrate the next stage of sustainable growth through empowering the various line businesses to broaden and deepen their solution and service offerings to better serve their customers across Africa.

The separation will enable Verve to leverage, to the maximum extent, its recent strategic alliance with the ‘Discover’ network, providing new business opportunities in over 185 countries around the world and will enable Interswitch Switching and Processing to take its card-agnostic pureplay switching services and  third party transaction processing (Mastercard, Visa, Union Pay, Verve) capabilities across the region.

READ  Safaricom CEO creates new positions, merges others in a consolidation move

Interswitch’s corporate structure  will now be in line with the guidelines of the Payment Systems Vision 2020 of the Central Bank of Nigeria (“CBN”), Verve International and Interswitch Switching and Processing to have separate management teams.

Verve International to be led by Mr. Charles Ifedi while Interswitch Switching and Processing to be led by Mr. Akeem Lawal.

 

Related posts

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0

 

Readers 969

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to [email protected]

Related Posts

Business

Cellulant Group CEO Ken Njoroge to step down in June

January 14, 2021
0
Business

The Fool-Proof Strategy For Business Owners To Find The Perfect Office Space

January 13, 2021
0
Business

UAP Old Mutual launches digital last expense cover for as low as Ksh 50

January 13, 2021
0
Business

How to Use Podcasts and Online Information to Enhance Ventures

January 6, 2021
0
Business

Equity Group crosses the trillion-shilling balance sheet milestone

December 23, 2020
0
Business

Econet Group’s Strive Masiyiwa Appointed to Netflix Board of Directors

December 17, 2020
0
Business

Is Kenya Becoming a Retail Deathplace?

December 15, 2020
0
Business

Australian Buy now, pay later provider Openpay launches in the US

December 15, 2020
0

https://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoBhttps://bit.ly/2VOxuoB
ADVERTISEMENT

Join our Mailing List

Loading

Recent Posts

realme to release more phones in 2021 to grow its smartphone market share

January 16, 2021

What You Need To Know To Manage Your Network Effectively

January 16, 2021

Baidu establishes an Intelligent electric vehicle arm to bring autonomous cars on a road near you

January 15, 2021

Adam Molai’s JUA Kickstarter Fund Doubles to $2M to Kickstart African Entrepreneurship

January 15, 2021

History of Binance: The Success and Failure of One of the Most Popular Cryptocurrency Exchange

January 15, 2021
">
">

Follow Us

">

There are many sites out there focused on blowing off some steam, from funny entertainment to thrilling experiences like playing online, in some cases online gaming could grant you the chance to win extra money. We came across rocketpot.io while browsing for a good btc casino online and it left us a very good impression with their wide variety of games and crypto offering.

Privacy & Cookies: This site uses cookies. By continuing to use this website, you agree to their use.
To find out more, including how to control cookies, see here: Cookie Policy

© 2019 Moran Media Group - All rights reserved TechMoran.

No Result
View All Result
  • Startups
  • Reviews
  • Insider
    • Obituaries
  • Business
  • Women
  • Blockchain
  • Columnists
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition

© 2019 Moran Media Group - All rights reserved TechMoran.

Login to your account below

Forgotten Password? Sign Up

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
%d bloggers like this: