Interswitch unveils 2022 Payment Innovation Jury Report

Nigeria's leading technology-driven company, Interswitch, with the support of The World Bank and Global Processing Services (GPS), has launched the 2022 Payment Innovation Jury Report at the ongoing Seamless Africa Conference in Nairobi, Kenya. 

The new report titled Payment Innovation: Myths and Realities, according to a statement, seek to provide in-depth perspectives from senior decision makers across the industry and also explore several key areas as to where payments innovation is currently focused, including A2A payments and BNPL.

Speaking during the launch, the Founder and Group Executive Officer of Interswitch, Mitchell Elegbe, said, “As one of the leading and influential players in payments who regard Africa as both our origin and primary catchment market, we are extremely enthused at Interswitch to yet again facilitate this timely and important research effort, which curates practical insights and expert perspectives of senior leaders globally, and across the entire spectrum of African retail payments.”

“It’s worth mentioning that this edition coincides with the 20^th anniversary of Interswitch’s inception, and I am thoroughly delighted that at such a significant milestone in our journey as a front-row contributor to payment innovation in Africa, we once again have the privilege of supporting this worthy initiative that facilitates balanced appraisal and a better understanding of the payment industry as it continues to evolve,” he said.

The Founder and Chairman of the Payment Innovation Jury and Board Director at Interswitch, John Chaplin, in his remarks, noted that “In the payment industry, there have long been competing ideas on what will be the ‘Next Big Thing,’ particularly as many good ideas fail to achieve the scale to operate economically. As such, what is surprising about the 2022 Payment Innovation Jury is the level of consensus achieved in almost all areas, from the future of BNPL to the end user benefits of CBDCs.

“It has been incredibly rewarding to gather the insights of 79 of the most senior players shaping the global payment industry. My grateful thanks to them for taking the time to share their views, which have been curated in this report,” he added.

By: Kanto Okanta