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🇳🇬 Nigeria /Technology

CashAfrica and ChamsSwitch Partner to Scale Contactless Payments in Nigeria

From The Punch · (35m ago) English Positive tone

Translated from English, summarized and contextualized by DistantNews.

TLDR

  • CashAfrica and ChamsSwitch have partnered to expand contactless payment infrastructure across Nigeria.
  • The collaboration aims to meet growing consumer demand for faster digital payments and evolving regulatory guidelines.
  • This partnership will integrate CashAfrica's NFC-based contactless solutions with ChamsSwitch's regulated switching and processing capabilities.

Nigeria's burgeoning digital payments sector is set to receive a significant boost with the strategic partnership between CashAfrica and ChamsSwitch. This collaboration marks a pivotal moment in the nation's journey towards a more cashless economy, addressing the increasing consumer appetite for seamless, tap-to-pay transactions.

The partnership directly responds to the dynamic Nigerian payments landscape, where consumer demand for swift in-store digital payments is accelerating. Simultaneously, regulatory bodies are establishing clearer guidelines for contactless payments, switching services, and payment providers, emphasizing compliance, security, and interoperability. ChamsSwitch, with its established switching and processing license and deep integration within Nigeria's financial infrastructure, provides a robust foundation.

Our focus at CashAfrica has always been on building the infrastructure that makes tap-to-pay technology work seamlessly for everyday Nigerians. This partnership with ChamsSwitch adds a significant switching and processing backbone to that vision, allowing us to scale faster, operate deeper within the financial system, and deliver contactless payments in full alignment with Nigeria’s regulatory framework.

— Malik AsamuCEO, CashAfrica, on the strategic importance of the partnership.

CashAfrica complements this by bringing its innovative contactless experience layer and NFC rails, enabling consumers to use their phones or contactless cards on standard point-of-sale devices. This synergy promises to create a comprehensive, compliant, and interoperable contactless payment stack, empowering banks, fintechs, and other partners to readily adopt tap-to-pay solutions. As Malik Asamu, CEO of CashAfrica, stated, this partnership is strategic, allowing them to scale faster and operate deeper within the financial system, fully aligned with Nigeria's regulatory framework. Mudiaga Umukoro, CEO of ChamsSwitch, echoed this sentiment, expressing pride in providing the regulated infrastructure to support CashAfrica's growth in the contactless space.

This alliance is more than just a technological integration; it's a forward-looking move that supports Nigeria's broader digital payments agenda. While the impact for consumers may be subtle at the point of sale—more banks and fintech apps supporting tap-to-pay on everyday devices—it signifies a significant step towards modernizing the nation's financial infrastructure and enhancing the overall payment experience.

ChamsSwitch has been part of Nigeria’s payments infrastructure for years, and this partnership reflects our commitment to enabling the next generation of digital payment experiences. CashAfrica is building something real in the contactless space and we are proud to provide the regulated switching infrastructure that supports that growth

— Mudiaga UmukoroCEO, ChamsSwitch, on their role in supporting contactless payment growth.
DistantNews Editorial

Originally published by The Punch in English. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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