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Digital Payment Options Can’t Succeed Without Trust—Lawal

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Akeem Lawal Interswitch Digital Payment Options

By Modupe Gbadeyanka

One of the things that have had a huge effect on the way human life is technology. It is one tool human has used to make life easier.

From the comfort of one’s home or office, items can be bought on the internet and payments made without having to go to a bank to withdraw cash for the is one of the purchase.

But despite this convenience technology offers, there are some persons who still do things the traditional way and they cannot be blamed.

In this interview, the Divisional CEO of Payments Processing at Interswitch, Mr Akeem Lawal, said stakeholders in the financial technology (fintech) industry must work tirelessly to build trust so as to make the digital payment options to be successful. Excerpts;

The SME sector in Africa is huge. In Nigeria alone, we have over 41 million micro, small and medium enterprises (MSMEs). How important would you say this sector is to the growth and development of the African economy?

The SME sector is a potential game-changer for economic growth, especially in Nigeria. This is why it is important for stakeholders in that sector to provide simple solutions that enhance their ability to generate economic activities that will boost the community and national economy.

At Interswitch, we are committed to providing simple and scalable payment solutions for small and big businesses alike. The Quickteller Business platform is a testament to our commitment to make payments one less thing to worry about for our business users and their customers.

There seems to be a lot of activities within the payment, e-commerce and fintech sectors in recent years, with many new entrants as well as FDIs. What would be your fair assessment of the sectors? What should we expect, going forward?

When accessing the various sectors, we know that the Nigerian economy has been a beneficiary of foreign direct investment inflows since the 1970s. However, there is a need to diversify the Nigerian economy and reduce our dependence on oil. There is no doubt that a thriving industrial sector is pivotal to mass employment, improved skills and better wages, which will lead to a reduction in poverty.

Nigeria’s ICT sector has grown from less than one per cent of GDP in 2001 to almost 10 per cent of GDP today. The country is currently Africa’s biggest technology market and accounts for 23 per cent of internet users in Africa with 122 million people online in December 2018.

Nigeria has surpassed other countries in sub-Saharan Africa to emerge as a premier tech investment destination with 55 active tech hubs raising a total of $94.9 million, while South Africa raised $60.0 million with 59 active start-ups. The growth of the tech sector offers new possibilities for Nigeria’s growing labour force, in terms of employment and entrepreneurship.

Now, these sectors I have mentioned have found gaps to fill and are offering creative solutions to individuals and companies.

However, despite the fact that there are so many new players in these sectors, there is still so much more to be done.

Take e-commerce, for instance, you will be surprised that a good number of people are still not comfortable buying things online – putting in their card details and trusting that what they ordered is what they will get.

The same goes for other digital payment options like PoS. A lot of people would rather spend hours on ATM queues or travel long distances to get to a bank instead of walking up to a nearby money agent to withdraw or deposit money.

This means that stakeholders need to do more to gain the trust of customers. Everyone wants convenience but people also want to trust that convenience.

You can’t blame someone that has had series of failed/declined transactions at a PoS terminal and is referred back to his/her bank, then spends days and even weeks going back and forth with the bank, to be confident enough to want to make use of that channel again.

In the coming years, there will definitely be more growth in these various sectors, especially fintech. There will still be immense additions to mobile consumptions as two-thirds of the global population are mobile subscribers. There will be more adoption of new technology to grow businesses and create jobs. This adoption will provide data and big data is also quite important for decision making and creating smarter innovations.

I also foresee that more organisations will begin to use Artificial Intelligence (AI) to increase efficiency and enhance productivity.

Recently, Interswitch introduced Quickteller Business, which is an upgrade of Interswitch Webpay. Why was the upgrade necessary?

The upgrade was necessary because the enhanced Quickteller Business platform broadens payment management capabilities for businesses and merchants of all sizes, allowing them to access a wide range of integrated payment offerings, ranging from disbursements to value financing.

Also, upgrading to the Quickteller Business platform enables small businesses, including social media entrepreneurs, to take their businesses online to become completely digital without having to go through the hassles of developing digital capabilities themselves.

With the ease of the Quickteller Business, users can focus on creating economic activities for themselves and their communities. One of the values added for using the Quickteller Business platform is that users are exposed to over five million consumers already using Quickteller for a variety of retail payments in countries such as Nigeria, Kenya, and the Gambia.

What are the add-ons and additional features that came with this upgrade?

We have a lot of add-ons and features, such as:

Storefronts – Quickteller Business allows business owners to create customized branded online store, display product images and videos and gives an incredible mobile experience for customers across all devices.

e-Billing and Invoicing – Quickteller Business enables businesses to automatically generate invoices, accept payments via the payment link embedded in the invoice. The invoice also helps the businesses track their sales.

Split Settlements – With Split Settlement, businesses can instruct Quickteller Business on how transactions should be settled into predefined bank accounts.

Developers (Sandbox) – Quickteller Business enables developers to try out the features of their apps on the platform before they are activated for real transactions.

Multiple Integration Plans – Quickteller Business is customizable and offers multiple integration plans for web and mobile SDKs. Explore Pop Up, Page Redirect and Inline for web developers as well as iOS and Android for Mobile integration options.

Detailed Transaction Reporting – Quickteller Business helps businesses have access to detailed reports of their transactions across all collection channels – Web, POS, QR, USSD.

Dispute Management – With Quickteller Business, businesses of all types and sizes can manage their transaction disputes and chargebacks.

Refunds – Where required, businesses can seamlessly initiate partial or full refunds from the transaction details page.

Quickteller Business was designed with SMEs in mind. What are the benefits they stand to enjoy by signing on to the platform?

There are lots of benefits for SMEs, although the benefits are also now extended to both SMEs and large corporate business.

First, they enjoy getting paid online without a website; from creating a payment link that is useful and unique for both single purchases and recurring payments. The link can be shared with their customers via WhatsApp, Instagram, email or SMS.

Secondly, it is compatible with all card types – Verve, Visa, Mastercard; all payment channels, QR, USSD and for integrating payments, it is compatible with WordPress, Web and Mobile SDKs.

Third, they will enjoy fast-tracked outstanding payment with digital invoices.  They can generate invoices on the go and get paid from any account via any channel. The invoicing feature has a payment link embedded to help receive payment seamlessly using our multi-payment methods and they can easily track from the portal once payment has been made.

What separates Quickteller Business from the pack?

The Quickteller Business platform is intuitive, robust and secure. Quickteller Business is an innovation and improvement of an already effective platform making it a more tested platform. The platform is built using world-standard fraud management solutions that help mitigate fraudulent transactions.

The Quickteller Business platform exposes its users to a ready market of over 5 million potential customers. The platform gives its users total control over its business, collection and every other thing in between.

What categories of business can sign on to Quickteller Business and how affordable is it for small businesses?

All types of businesses can sign up to the Quickteller Business platform – small businesses, large corporates and individuals. From the platform, businesses and individuals can receive payments from anyone, anywhere and everywhere.

Interestingly, these offers come at no cost. Yes, everything on the Quickteller Business platform is free and if you register your business between now and April 2021, you will also enjoy zero transaction fees.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via [email protected]

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Nigeria Records 188 million Active Mobile Lines in April 2026

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airtel glo MTN 9mobile subscribers

By Adedapo Adesanya

Latest data from the Nigerian Communications Commission (NCC) has revealed that Nigeria’s teledensity rose to 86.73 per cent in April 2026, up from 85.67 per cent recorded in March, as active mobile subscriptions increased to 188.01 million, reflecting sustained expansion in access to telecommunications services across the country.

Teledensity refers to the number of active telephone connections (mobile or fixed-line) per 100 people in a specific geographic area.

This growth was driven largely by increasing demand for mobile voice and data services, as more Nigerians integrated digital communication into their daily lives for work, education, commerce, and social interaction.

The NCC’s report provided a detailed breakdown of operator performance, with MTN Nigeria retaining its dominant position as the largest mobile network operator. MTN recorded 96,391,419 active subscribers, accounting for more than half of the country’s total mobile subscriptions.

Airtel Nigeria followed with 64,670,018 subscribers, maintaining its stronghold as the second-largest provider. Globacom, the indigenous operator, recorded 23,178,597 subscribers, while 9mobile had 3,538,021 active subscribers during the period.

The competitive dynamics among these operators continued to shape the market, with each vying for greater market share through innovative data plans, network expansion, and enhanced customer service offerings.

The commission’s data also highlighted a significant technological shift in network usage, as consumers increasingly migrated to faster broadband technologies. Fourth-generation technology remained the dominant mobile network platform, accounting for 54.41 per cent of total network connections in April, up from 53.76 per cent in March.

This steady increase underscored the growing preference for high-speed internet capable of supporting video streaming, online gaming, remote work, and digital learning.

Similarly, fifth-generation technology continued its steady growth trajectory, with its market share rising from 4.20 per cent in March to 4.34 per cent in April. The gradual rollout of 5G infrastructure by operators in major cities and urban centres has begun to yield tangible results, offering lower latency and faster download speeds that are expected to drive innovation in sectors such as healthcare, agriculture, and manufacturing.

In contrast, the share of second-generation subscriptions declined to 35.93 per cent from 36.74 per cent, reflecting a gradual but clear shift away from legacy networks to higher-speed broadband services.

The third-generation segment remained relatively stable, accounting for 5.32 per cent of total connections compared with 5.30 per cent recorded in March.

This stability suggested that while 2G users were upgrading, a core group of subscribers still relied on 3G networks, particularly in rural and underserved areas where more advanced infrastructure was not yet fully deployed.

The report further showed that of the total subscriptions, 154,347,260 were on mobile GSM networks, while fixed wired internet subscriptions stood at 156,662. Voice over Internet Protocol services accounted for 220,166 subscriptions, indicating a niche but growing interest in internet-based voice communication alternatives.

The NCC also reported significant growth in broadband subscriptions, which increased to 120,684,625 in April from 117,710,397 in March.

Consequently, broadband penetration improved to 55.67 per cent from 54.30 per cent recorded in the previous month. The commission attributed this increase to continued investment in broadband infrastructure by both private operators and government-backed initiatives, as well as the growing adoption of high-speed internet services by households and businesses seeking to leverage digital tools for productivity and connectivity.

Despite the encouraging growth in broadband subscriptions, total internet data consumption declined slightly during the month. According to the report, internet usage fell marginally to 1,414,848.70 terabytes from 1,422,764.54 terabytes recorded in March.

The report suggested that while more Nigerians were gaining internet access, overall data consumption remained relatively stable, possibly due to factors such as price sensitivity, data bundle optimisation, and the varying intensity of usage across different user segments.

This moderation in consumption did not detract from the broader positive trend of expanding connectivity and digital inclusion. The NCC noted that the telecommunications sector continued to play a critical role in the nation’s economy, contributing 9.19 per cent to Nigeria’s Gross Domestic Product (GDP) in the first quarter of 2026.

This contribution underscored the sector’s transformation from a mere utility provider to a foundational pillar of economic activity, enabling everything from fintech transactions and e-commerce to remote governance and digital entertainment.

The commission added that sustained investment in broadband infrastructure, wider deployment of 5G networks, and improved quality of service would further accelerate digital inclusion, spur innovation across industries, and drive inclusive economic growth in the country.

It also emphasised the need for continued policy support, regulatory stability, and collaborative efforts between the public and private sectors to bridge the remaining digital divide and ensure that the benefits of connectivity reach every corner of the nation.

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Google Play Seeks Entries for $1m Indie Games Fund

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Google Play Indie Games Fund

By Modupe Gbadeyanka

An initiative providing equity-free capital, technical support, and expert mentorship aimed at empowering African game developers with the skills and resources they need to thrive has been launched by Google Play.

Tagged Indie Games Fund, Google Play is committing $1 million for the scheme, with calls for entries expected to close on July 31, 2026.

Applications are open to independent game developers across 32 countries in Africa, including Benin, Botswana, Burundi, Central African Republic, Congo (DRC), Cote d’Ivoire, Equatorial Guinea, Eritrea, Eswatini, Gambia, Ghana, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Malawi, Mali, Mauritania, Mauritius, Mozambique, Namibia, Niger, Nigeria, Sierra Leone, Somalia, South Africa, Tanzania, Togo, Uganda, Zambia, and Zimbabwe.

They must be officially registered and based within the eligible African countries. They must also operate as a private, non-publicly listed independent studio with 50 or fewer employees, and must have already launched a mobile, PC, or console game.

Final selections and the announcement of the 10 chosen studios will take place in September. Selected studios must commit to making their game available on Google Play and participating non-exclusively in the Google Play Pass subscription programme for two years.

Business Post gathered that selected studios will receive a share of the $1 million fund, with individual allocations ranging from $50,000 to $200,000 to expand and elevate their games.

In addition to financial backing, recipients will benefit from dedicated, hands-on mentorship from industry experts, and studios will receive direct guidance to optimise their games, refine their technical frameworks, and boost market discoverability

While the African region is rich in creative talent and home to some of the world’s most compelling storytelling, limited access to capital has too often held back promising game studios.

This programme addresses that barrier, delivering the critical financial and technical resources required for African indie developers to refine their creative visions, optimise their games, and share uniquely African stories with a global audience.

“Africa’s unique creativity has fuelled a vibrant game development scene. Bringing this fund to the continent underscores our commitment to unlocking the immense talent of local studios, providing the resources needed to scale businesses, refine creative visions, and share uniquely African stories with a global audience,” the Managing Director for Europe, the Middle East and Africa at Google Play, Mr Ben McOwen Wilson, stated.

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Airtel Nigeria CEO Urges Adoption of Intelligent Technology Platforms

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Dinesh Balsingh Airtel Nigeria CEO

By Modupe Gbadeyanka

To accelerate Nigeria’s digital future, the chief executive of Airtel Nigeria, Mr Dinesh Balsingh, has advocated the adoption of intelligent technology platforms that drive innovation, productivity, and sustainable economic growth.

According to him, the future lies in intelligent ecosystems powered by artificial intelligence (AI), the Internet of Things (IoT), satellite connectivity, and integrated enterprise solutions.

He submitted that the telecommunications industry is evolving beyond connectivity to become the foundation for enterprise transformation and the country’s digital economy.

“The role of telecommunications has fundamentally changed. Businesses are no longer asking only for connectivity; they want solutions that improve productivity, strengthen security, and accelerate digital transformation. That is the journey Airtel is leading.

“We are evolving from a telecommunications company into a technology partner that helps organisations unlock growth and create long-term value,” Mr Balsingh said at the Lagos Business School (LBS) Breakfast Club on the theme, From Telco to Techno.

Noting that value is no longer measured by the volume of data consumed but by the business outcomes technology delivers, he highlighted a key shift in telecommunications to AI-powered customer protections, industry-specific digital solutions, IoT platforms, and hybrid satellite-terrestrial networks that extend reliable connectivity to underserved communities and remote business locations.

“Technology should do more than connect people. It should protect them, simplify operations, and help businesses make better decisions. Investments are now focused on building smarter, more resilient digital infrastructure that supports organisations across every sector of the economy,” he further stated, adding that sectors, including retail, education, healthcare, government, manufacturing, and oil and gas, increasingly require integrated digital solutions that combine connectivity with cloud services, intelligent networking, surveillance, automation, and data analytics.

Mr Balsingh also urged business leaders to rethink their digital priorities, noting that future competitiveness will depend on how connected, intelligent, secure, automated, and resilient their organisations become.

“The organisations that will lead the next decade are those that invest today in intelligent digital infrastructure. Our customers are no longer buying connectivity alone. They are investing in productivity, intelligence, and digital transformation,” the Airtel Nigeria chief said.

The session, which also featured the IMF Resident Representative for Nigeria, Mr Christian Ebeke, formed part of the Lagos Business School Breakfast Club, a platform that brings together business executives and industry leaders to examine emerging trends shaping the future of enterprise and economic development.

Airtel Nigeria’s participation reinforced its commitment to supporting Nigeria’s digital transformation by enabling businesses with innovative technologies that improve efficiency, strengthen resilience, and unlock new opportunities for growth across the country’s rapidly evolving digital economy.

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