Interswitch Group

Interswitch Group is one of Nigeria's leading payment processing and financial technology companies, founded in 2002 by Mitchell Elegbe as a Nigerian indigenous electronic payment switch. The company operates Nigeria's largest electronic payment processing network, processing over 1 billion transactions per month for banks, merchants, and individual consumers. Interswitch products include Verve (Africa's largest domestic card scheme), Quickteller (consumer payments platform), Paydirect (merchant payments), and a network of ATM, POS, and mobile payment infrastructure. In 2019, Visa acquired a 20% stake in Interswitch for USD 200 million, valuing the company at over USD 1 billion and making it one of the first Nigerian "unicorns". Mitchell Elegbe remains the Group CEO.