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UnionPay, Interswitch to Accelerate Payment Digitalisation in Africa

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UnionPay

By Modupe Gbadeyanka

A Nigerian payments company, Interswitch, has partnered with UnionPay International as its Third-Party Service Provider (TPSP) in East Africa.

The deal will allow cardholders and merchants within the region to transact seamlessly and conveniently across various platforms on the global UPI network.

The partnership between both parties was announced on Wednesday, September 9, 2020, and will further enable payment digitalisation across the continent.

Under the agreement, UnionPay will facilitate the acceptance of Interswitch cards across ATMs, Points-of-Sale, QR Payments and online payments, thereby consolidating the existing partnership with Interswitch in West Africa and helping to drive wider acceptance on the continent.

These initiatives will ultimately enhance the current payment landscape and in turn, improve the lives of the mass markets in Africa.

“UPI and Interswitch East Africa (Kenya) Limited share a mission to provide convenient and secure payment solutions across Africa, and this partnership continues our work to broaden acceptance to cardholders transacting across the region”, said Romana Rajput, Country General Manager – Kenya for Interswitch East Africa’ “We look forward to working with the UPI team and we are excited for the opportunities this new agreement presents”.

Mr Mitchell Elegbe, Interswitch Group Founder and Chief Executive Officer stated that the new licensing agreement reinforced the company’s focus on achieving broad acceptance.

“We are delighted to expand our existing partnership with UPI, this time to East Africa”, Mr Elegbe said, adding that, “The region presents great opportunity following significant transformation in recent years with the rapidly increasing adoption of digital technologies.

“This new agreement is aligned with our vision to make payments a seamless part of everyday life in Africa, and we look forward to consolidating our relationship with the UPI team.”

“This is indeed another milestone for Africa”, said Luping Zhang, General Manager of UnionPay International Africa Branch. “We are committed to promoting high-quality digital payments in Africa. Together with Interswitch, we present a powerful solution allowing African businesses to better integrate into the global marketplace”.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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HabariPay’s Squad Seeks Entries from Young Innovators for Hackathon 2.0

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Squad Hackathon

By Modupe Gbadeyanka

The payment fintech subsidiary of Guaranty Trust Holding Company (GTCO) Plc, Squad, operated by HabariPay, has urged young innovators to submit applications for the 2025 Squad Hackathon.

A statement from the company disclosed that Squad Hackathon 2.0 will take place from March 13 to 15, 2025, at the state-of-the-art GTCO Training Complex located at Tayo’s Plaza, Abeokuta, Ogun State.

Themed Finclusion Revolution: Unlocking Access, Empowering Communities, this 3-day event aims to spotlight how technology can address real-world challenges that limit access to financial services in underserved communities.

The hackathon will feature onboarding, team-building activities, brainstorming and hacking sessions, and solution development.

By providing a platform for university students and other tertiary institution participants to showcase their IT skills, the event fosters personal growth, professional development, and network-building.

Additionally, it serves as a stepping stone for young innovators to gain exposure, attract investment, and potentially bring their solutions to market.

The grand prize for the programme is N5 million for first place. The first runner-up will smile home with N3 million and the second runner-up will get N2 million, while the standout participants will have the exclusive opportunity to join the Squad Hackademy.

Launched in January 2024, Take on Squad Hackathon is designed to foster creativity, collaboration, and problem-solving skills among emerging tech talents.

Competing teams will leverage Squad’s advanced APIs to create scalable digital solutions that not only improve their immediate communities but also contribute to addressing wider economic and social concerns.

The second edition of the hackathon is expected to be even larger and more impactful, with expanded participation from universities across Nigeria and a broader range of impactful problem statements.

“The Take on Squad Hackathon reflects our core mission of empowering businesses and young innovators. We believe that the next big breakthrough in technology will come from young minds who are passionate about solving current and emerging universal challenges.

“At Squad, we are not just building cutting-edge payment solutions for our clients, but nurturing a culture of innovation and empowering the next generation of tech leaders in Africa,” the Managing Director of HabariPay Limited, Eduophon Japhet, stated.

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Telcos Finally Begin 50% Hike in Data, Call Prices

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swiftVEE

By Adedapo Adesanya

Some Nigerian telecommunication service providers (telcos) have started hiking their tariffs following the approval granted by the Nigerian Communications Commission (NCC) in January.

Subscribers of MTN Nigeria and Swift are some who have seen increments across their data plans with Airtel, Globacom and others preparing to roll out their new rates.

MTN Nigeria has revised prices, even going beyond the approved 50 per cent in some of its increment.

For internet data, MTN’s 1.8GB monthly plan is now 50 per cent higher than the previous rate at N1,500. Before now, the package was 1.5GB priced at N1,000.

In additional, the company has raised its 15GB plan to N6,500 from N4,500, while its 20GB plan has been adjusted to N7,500, up from N5,500.

Customers who use larger bundles will pay more comparatively as the 365-day 1.5TB plan jumped by 60 per cent from N150,000 to N240,000, and the 600GB 90-day plan also increased by 60 per cent from N75,000 to N120,000.

SWIFT Networks has also increased internet prices by 50 per cent across board.

Business Post gathered that other telcos will roll out the increment from this week. An insider told this newspaper that the others are waiting to see the reaction from other services before implementing.

Recall that the NCC announced its approval for a 50 per cent tariff increase for telecoms operators in the country, the first of such since 2013 on January 20. This followed a lengthy battle that involved the telcos request a 100 per cent increment.

The regulator said the price adjustment though lower than the “over 100 per cent requested by some network operators, was arrived at taking into account ongoing industry reforms that will positively influence sustainability”.

The regulator said the increase was pursuant to its power under Section 108 of the Nigerian Communications Act, 2003 (NCA) to regulate and approve tariff rates and charges by telecommunications operators.

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IBM to Exit Nigeria, Others from April 2025 Amid Low Sales

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IBM leaves nigeria MIBB

By Aduragbemi Omiyale

One of the global tech giants, International Business Machines (IBM), is planning to quit a few markets in Africa from April 1, 2025.

According to reports, IBM will leave Nigeria, Ghana and other key African markets because of its declining sales in the region.

The company has struggled to impress consumers because of stiff competition from rivals like Dell, Huawei and others with attractive products.

Its operations in Nigeria and other African countries will now be handled by MIBB, a subsidiary of the multinational conglomerate, Midis Group.

MIBB will sell a wide range of IBM products and services in Africa like software, hardware, cloud solutions, and consulting services.

IBM has had a significant presence in Nigeria for over five decades, playing a crucial role in the country’s technology landscape.

The company provided infrastructure and consulting services to key sectors, including banking, telecommunications, oil and gas, and government.

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