The prominent Nigerian fintech company is expanding its payment gateway by aligning with leading payment solutions providers, including a recent collaboration with an African unicorn at the start of 2024. This partnership represents a significant step towards increasing the reach and functionality of its platform.

Nigerian fintech leader Interswitch Group announced on Sunday the integration of OPay Wallet into its Interswitch Payment Gateway (IPG), expanding payment options for users and merchants. This move further strengthens Interswitch's position as a digital payments pioneer in Africa.

The integration allows IPG users to pay directly through their OPay Wallets alongside existing options like bank cards, Quickteller, QR codes, and USSD. "Through our latest collaboration with OPay, we are excited to introduce a new dimension of payment convenience to users and merchants. This partnership reflects our dedication to introducing innovations that enhance the digital payment experience, and we are eager to witness the positive impact it will have on the entire payment ecosystem," said Muyiwa Asagba, Interswitch Managing Director of Digital Commerce & Merchant Acquiring (Paymate).

Having achieved unicorn status in 2019 after a 20% stake acquisition by Visa, Interswitch has established itself as a leading African fintech. Last September, it partnered with Google to integrate Google Pay into IPG, further diversifying its offering. This focus on user convenience aligns with the company's mission to simplify everyday life.

OPay, meanwhile, reached unicorn status in 2021 following a $400 million funding round. The fintech has since become a major player in African mobile payments. This partnership exemplifies the rapid growth of the continent's fintech sector, the most attractive for investors. Notably, among Africa's unicorns, only Jumia operates in e-commerce, highlighting the dominance of fintech in the region.

Adoni Conrad Quenum