Interswitch Group, the Nigeria Pan-African integrated digital payments and commerce company, has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria.
The deal, which is worth £56 million (approx. N26billion), will leverage British technology to keep Nigeria’s commuters on the move through the launch of three products developed exclusively for the Nigerian market – the BeCard, the BeVal and the BeReader, with scope to expand this offer throughout Africa.
The BeCard is a regular shaped card – like any bank card or the Oyster card in London. The BeVal is the device that is installed on the buses where the passenger taps on – just like on the London buses, while BeReader is the mechanism that makes all these work.
Commenting on the partnership, Akeem Lawal, Divisional CEO for Payment Processing at Interswitch highlighted the tremendous potential the partnership offers for revolutionizing the transportation system with attendant impact on millions of commuters in Nigeria.
He said: “Interswitch believes that the transport system in Nigeria, Africa’s largest consumer market, is ready for innovation. This partnership is a key and timely milestone in our industry vertical markets’ focus. It is highly compatible with our vision …read more