In Nigeria, Africa’s largest consumer market, over 50% of the population remains unbanked or underbanked. Financial inclusion has without doubt assumed greater level of importance in recent times, not only due to its perceived importance as a driver of economic growth but also because of increasing focus by governments, multi-lateral agencies, advocacy groups and other social sector stakeholders on wealth creation and poverty alleviation among demographics who are closer to the bottom of the pyramid.
In 2015, a fully-owned subsidiary of the Group, licensed to operate as a Super-Agent for the distribution of financial inclusion services established. Interswitch Financial Inclusion Services (IFIS), trading as Quickteller Paypoint is optimally positioned to serve as the interconnect point and infrastructure for integrating and delivering electronic payment services to the unbanked, under-banked and banked. We work with financial service providers, merchants, billers, and other organizations that aim to increase their efficiency and outreach through our network of human service interfaces for secure financial transactions nationwide.
With a vision of becoming the market leader in agency footprint and executional capacity in our market, IFIS exists to serve as a catalyst for creating opportunities with capabilities to empower and transform the lives of ordinary people and businesses through the seamless exchange of value, leveraging a secure and trusted agent network.