By Modupe Gbadeyanka
To deliver innovative and secure digital payment solutions in the Democratic Republic of Congo (DRC), the country’s leading integrated payments service provider, Multipay Congo, has partnered with its Nigerian counterpart, Interswitch Limited.
Multipay intends to leverage Interswitch’s technology and expertise to provide better services to its customers in the Central African market.
The partnership is expected to boost financial inclusion, economic growth, and social development in the DRC, which has a population of over 100 million people and a gross domestic product (GDP) of over $40 billion.
Multipay Congo is a pioneer financial technology company that launched the first local interbank payment service in the DRC in 2015, called “Multipay”, in collaboration with four major banks, namely: the BCDC (Banque Commerciale du Congo), Equity Bank Congo, FirstBank DRC, and Rawbank.
The first two banks have since merged to become the current Equity BCDC.
Multipay service enables holders of private (local) cards from these banks to perform transactions at ATMs, point-of-sale terminals, and in bank branches across the country.
“We are delighted to partner with Interswitch Limited, another pioneer and leader in the African digital payment space.
“This partnership will enable us to continue to pursue our ambition to actively participate in the financial inclusion objectives of the Central Bank of Congo by developing innovative, accessible, secure digital financial products and services, adapted to the needs of the population and businesses.
“By working with Interswitch, we leverage our local knowledge and skills to promote financial inclusion and economic empowerment, as well as to support the development of the digital economy in DRC and in the region,” the Managing Director of Multipay Congo, Mr Olivier Bueno, said.
Also, the Managing Director of Payment Processing and Switching at Interswitch Purepay, Mr Akeem Lawal, said, “The partnership aligns with our overarching efforts to expand our footprint across more African regions, developing and deploying innovative solutions until payments are a seamless part of everyday life on the continent.
“As part of this partnership, we will strengthen our presence in the DRC, one of Africa’s most populous and promising markets, so, we look forward to working with relevant regulators and other financial service providers to jointly provide safe, reliable, and convenient financial services to individuals and businesses in the DRC.”
Adedapo Adesanya