The SME sector is a potential game changer for economic growth – Akeem Lawal, Interswitch DCEO

The Small and Medium Enterprises (SME) sector have been named as a major driver of growth in the Nigerian economy, and one which stakeholders need to simplify processes for. This statement was made by Akeem Lawal, Divisional CEO for Payments Processing at Interswitch, when he featured on the CNBC Power Lunch programme on Monday, March 1, 2021.

He explained that payment being a pinpoint for businesses needed to be simplified, hence the introduction of the Quickteller Business, a platform which connects small businesses with their consumers, while removing the hassles attached to building a website or developing technology capabilities.

“The SME sector is a potential game changer for economic growth. Providing simple solutions that enhance their ability to generate economic activities that will boost community and national economy is therefore a prerogative for stakeholders in the sector. At Interswitch, we are committed to providing simple and scalable payment solutions for small and big businesses alike. The Quickteller Business platform is a testament to our commitment to make payments one less thing, for our business users and their customers, to worry about,” Lawal said.

Interswitch Group through its Quickteller Business, connects SMEs with a community of millions of consumers to enable them bring their products and services to the market without the hassles of having to build a website or develop any technology capabilities themselves.

According to Lawal, Interswitch has continued to provide payment solutions to businesses and individuals. However, the relaunch of the Quickteller Business platform is due to the negative impact of COVID-19 on businesses and the economy. The Quickteller Business enables small businesses, including social media entrepreneurs, take their businesses online, become completely digital and continue to create economic activities for themselves and their communities. Businesses that sign up between now and April 2021 will also enjoy zero transaction fees.

The Quickteller Business platform was formally relaunched recently. This unique payment solution broadens and empowers businesses of all sizes to facilitate and manage transactions across the globe. Its wide range of integrated payment offerings allow the merchants to send invoices and

payment links, receive payments, track transactions, issue receipts, and settle dispute, refund and cash back issues.

The Quickteller Business Storefront allows the merchants to create an online store without having to write a single line of code. The merchant can add as many products, images and videos as possible. The storefront has incredible mobile experience that ensures that the look and feel of the merchant’s page is consistent across all devices.

For the customers, payments are easily made using the merchant’s unique payment link, thereby eliminating the incidences of crediting the wrong account. Customers are spoilt for payment choice as they can choose to pay with either cash, bank transfer, USSD, QR or Quickteller wallets. Also, there is an escrow service that guarantees refund of customers funds, where there is a case of unsatisfactory service.

The Quickteller consumer platform has been around for a very long time. With over 5 million consumers transacting on the platform, it is no doubt one of the strongest digital payment platforms in the payment space. Therefore, business owners who are signed onto the Quickteller Business platform have the vantage leverage of being exposed to over 5 million customers daily.

Quickteller Business platform comes with an intuitive interface, provides easy onboarding process, and helps to reduce the perceived risk of online transactions.

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About Interswitch

Interswitch is a leading technology-driven company focused on the digitization of payments in Nigeria and other countries in Africa. Founded in 2002, Interswitch disrupted the traditional cash-based payments value chain in Nigeria by supporting the introduction of electronic payments processing and switching services. Today, Interswitch is a leading player with critical mass in Nigeria’s developing financial ecosystem and is active across the payments value chain, providing a full suite of omni-channel payment solutions. Interswitch’s vision is to make payments a seamless part of everyday life in Africa, and its mission is to create transaction solutions that enable individuals and communities to prosper across Africa. Interswitch’s broad network and robust payments platform have been instrumental to the development of the Nigerian payments ecosystem and provide Interswitch with the infrastructure to expand across Africa.