Technology
Digital Payment Options Can’t Succeed Without Trust—Lawal
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.
Choosing between a VPS and a dedicated server can be complex. They run apps and webpages. But they operate differently. Understanding the difference between VPS and dedicated server solutions will help you prevent complications and save money later on. In this text we will explain everything in detail with examples from actual life.
VPS vs Dedicated Server: What Actually Sets Them Apart
One physical machine is divided into multiple virtual servers by a VPS. Through virtualization software, each user receives a portion of resources that are separate from those of other users.
A dedicated server operates in a different manner. One user owns a single physical machine. No neighbors, no sharing, simply complete hardware access.
This is the core of the vps vs dedicated server debate. Shared hardware means lower costs, while full ownership means more raw power. Finding the best vps hosting service often comes down to how well a provider balances performance with fair pricing on shared resources.
| Factor | VPS | Dedicated Server |
| Resource allocation | Shared pool, virtualized | 100% dedicated hardware |
| Performance consistency | Possible noisy neighbor effect | Guaranteed, stable capacity |
| Scalability | Instant resize | Requires hardware upgrade or migration |
| Cost | Lower entry price | Higher fixed cost |
Performance, Cost and Control: Where Each One Wins
In terms of raw performance, dedicated servers are superior. Each gigabyte of RAM and each CPU cycle are part of a single project. There is no competition for resources.
Flexibility is where VPS excels. It takes minutes, not days, to scale up. Pricing stays lower too, since costs get split across multiple users on the same hardware.
Shared hardware limitations rarely cause problems for smaller projects. Providers like Antihost allocate resources fairly, so performance stays steady even during traffic spikes. The gap only really matters once traffic gets heavy and consistent.
The contrast of vps vs virtual machine is also confusing people often. A VPS is a virtual computer in a technical sense, but it’s rented from a hosting company, rather than running on your own hardware.
Matching the Server to the Project: Real Scenarios
A dedicated server is rarely required for a small business website. A VPS can easily manage moderate traffic while maintaining low expenses.
A growing SaaS product usually starts on a VPS and expands as the user base grows. This adaptability is more crucial in the early stages than brute strength.
A database-heavy application benefits from dedicated hardware once query volume reaches a certain level. In this case, the lack of resource sharing and a constant disk speed are essential.
A game server depends on low latency and steady performance. Many game servers run fine on VPS today, especially with modern hardware. As David Heinemeier Hansson put it: “Personal servers have gotten really scarily quick, inefficient, and personal internet connections rival what we connected data centers with just a decade or two ago.” That shift makes VPS a stronger option than it used to be.
Here is a quick breakdown of what typically fits best:
- Small business website: VPS, for cost and simplicity
- Growing SaaS product: VPS, then scale to dedicated later
- Database-heavy app: Dedicated server, for consistent speed
- Game server: VPS, unless player counts get very large
Summary
In every situation, neither choice is superior to the other. Everything impacts the optimal selection, including the scale of the project, traffic patterns, and all growth plans. Scale from what works now when the numbers really demand it.
By Modupe Gbadeyanka
The Executive Vice Chairman of the Nigerian Communications Commission (NCC), Mr Aminu Maida, has reemphasised the need to protect the nation’s telecommunications infrastructure, especially fibre networks, noting that damage to fibre networks carries significant economic consequences.
Speaking virtually at the Association of Telecommunications Companies of Nigeria (ATCON) Critical Conversation Forum on Fibre-to-the-Home (FTTH) in Lagos recently, he described FTTH as a critical enabler of Nigeria’s digital future.
“FTTH is uniquely positioned to meet Nigerians' next phase of data demand. The quality of our broadband will increasingly shape the competitiveness of our businesses, the growth of our digital industry and the opportunities available to our citizens,” the NCC chief stated.
“We must uphold deployment standards. Nigeria needs fibre that is properly installed, properly documented, and properly protected,” Mr Maida further said at the event themed Fibre to the Home in Nigeria: Addressing Challenges, Strengthening Standards and Ensuring Sustainable Deployment.
During a panel discussion titled Policy, Governance and Regulatory Alignment, the Deputy Director of Strategic Business Initiatives at ipNX, Mr Segun Okuneye, highlighted the need for stronger collaboration across the telecommunications ecosystem to unlock the full potential of fibre broadband in Nigeria.
According to him, sustainable fibre deployment extends beyond technology and investment to include policy consistency, stakeholder alignment, infrastructure protection, and shared responsibility.
“Achieving universal fibre connectivity requires more than deploying infrastructure; it requires sustained collaboration between operators, regulators, government agencies and host communities.
“When policies are aligned, deployment standards are consistently enforced, and critical infrastructure is protected, we create an environment where investment thrives and more Nigerians can enjoy reliable, high-speed broadband.
“At ipNX, we remain committed to working with all stakeholders to build resilient digital infrastructure that will support Nigeria’s economic growth for generations to come.”
Earlier in his welcome address, ATCON President, Mr Tony Emoekpere, underscored the strategic importance of FTTH in achieving the country’s broadband penetration targets while calling for greater public awareness around protecting communications infrastructure.
“This forum is critical because Fibre-to-the-Home is the technology that will enable the country to achieve full broadband penetration. We all depend on communication infrastructure, and it must be protected,” he declared.
Drawing a comparison with power infrastructure in the country, he added, “If somebody comes to your neighbourhood to tamper with your transformer or power cables, everybody will come out. The same thing needs to apply for communications infrastructure. When we see people damaging fibre cables, we should raise an alarm.”
By Modupe Gbadeyanka
Thursday, July 23, 2026, provided an opportunity for financial services professionals to converge on Landmark Event Centre, Lagos, to brainstorm on ways to meet the rising customers’ expectations.
The platform used for this purpose was Core by Interswitch. It is part of the company’s broader commitment to strengthening Africa’s digital payments ecosystem by fostering collaboration, knowledge sharing and operational excellence across the financial services value chain.
At the event, participants, numbering over 400, also highlighted the growing importance of operational excellence in sustaining resilient payment infrastructure.
As digital financial services continue to expand across Africa, closer collaboration among financial institutions, fintechs and payment service providers will be essential to improving responsiveness, resolving operational challenges more effectively and delivering consistently reliable customer experiences.
The Executive Vice President for Operations and Technology at Interswitch, Mr Babafemi Ogungbamila, said the forum reflects the company’s belief that exceptional customer experiences are built not only on innovative technology but also on the expertise, collaboration and commitment of the professionals who keep payment systems running every day.
“Every successful digital transaction is powered by professionals whose work often goes unseen but is fundamental to building trust in digital payments. Core by Interswitch was created to recognise their contribution, strengthen collaboration across the industry and create opportunities for shared learning that ultimately benefit financial institutions and the customers they serve.
“As digital payments continue to evolve, investing in the people and processes that power the technology is just as important as investing in the technology itself,” Mr Ogungbamila said.
Beyond recognising the professionals whose work often goes unnoticed, the programme underscored the value of creating stronger connections across the payments ecosystem.
By creating a dedicated platform for knowledge sharing, collaboration and professional development, Core by Interswitch aims to build a more connected community of payments operations professionals equipped to respond to the evolving demands of the digital economy.
