The chief executive officer of ChamsSwitch, a PSP licensed company by the Central Bank of Nigeria (CBN), under the category of Switching & Processing, Mr. Emmanuel Ojo, has disclosed that the company now processes transactions worth over N200 billion every year as it continues to drive e-payment in Nigeria.
With its operating license allowing it to act as non-bank acquirer, switch, card processor, PSSP, PTSP & super-agent, the company has been at the forefront of e-payment growth in Nigeria, with a variety of services such as card processing, e-commerce payment gateway, virtual airtime top-up services, electronic funds transfer services, among others.
With these outstanding services, the company is aiming to become a unicorn in the next few years with business expansion across Africa and the global community.
Speaking on the company’s impacts on the Nigerian financial industry in a chat with Nairametrics, Ojo said: “We currently handle payments for public and private sector clients and process over N200bn worth of transactions annually. We have offered some of the most innovative product and services to the industry that has benefited both the private and public sector. More importantly, we have provided cost-effective micropayment solutions to underserved markets and we currently have over 100 other financial institutions (OFIs) as clients.”
He added that the company has distinguished itself in the industry by offering simple and secure payment solutions, flexible integration to 3rd party interfaces, custom-built features, 24/7 support, free consultancy services to its clients and flexible commercial structure.
While emphasizing the importance of partnership in the technology space in order to remain ahead of the curve, Emmanuel said: “This is why we always embrace partnerships that are able to support our need in scaling our operating capacity at all times. We recognise the need to stay in tune with the market demand.”
He said the company also embraces and supports healthy partnerships with competitors to achieve a common goal within the boundaries of regulatory guidance.
On the security of its platforms, the ChamsSwitch CEO said the company goes to multiple lengths to prevent fraud across all its platforms. “Our systems allow real-time monitoring so our customers are able to track their transactions instantaneously. Also, we have the highest level of security certification (e.g. PCI DSS, ISO27001) for our systems. We equally work closely with security & capacity consulting firms to continuously assess our systems and environments for optimal performance and advance security,” he added.
For expansion of its business beyond Nigeria, Ojo said ChamsSwitch is in partnerships with international companies that already have footprints in other African countries and where “it’s most likely that we will be of service to our partners in other geographical locations where the interest is mutual.”