Interswitch Financial Inclusion Services Limited (IFIS) is the division of the Interswitch group which has the responsibility of making financial services more inclusive especially to the unbanked population of Nigeria.
In response to the concern that the majority of Nigerians are either underbanked or unbanked, the division was set up to drive inclusion through nationwide deployment of agent networks known as Paypoint Agents.
The Paypoint agents carry out financial services in their neighbourhood on behalf of Interswitch. These financial services include Bill payments (PHCN, LAWMA, DSTV), Funds Transfer, Airtime recharge, Cash deposit and withdrawal among others.
The Paypoint locations are built in partnership with existing businesses who have already been recording considerable footfall. The agents are raised through a standard process which involves proper documentation and adequate training -this makes it possible for the agents to be able to serve the customers in neighbourhood adequately.