The chief executive officer of Interswitch, Mitchell Elegbe, has explained the rationale for launching a new brand identity for the company.
Speaking with Legit.ng, Elegbe said the leading digital payments and commerce provider aims to innovate e-payment solution in Africa where transaction takes place at the speed of thought.
According to him, the decision is also informed by the need to push the boundaries of digital payment in Africa.
''The willingness of the brand to move across borders and play in several markets in Africa, requires a new kind of identity and positioning.’’
''Business opportunities come and we want to take them. The new Interswitch logo and brand position is a confident statement of our leading position in the market and our vision to continue to push the boundaries of digital payments in Africa,’’ he said.
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Elegbe said Africa, yearning for swift digital payments is endowed with business opportunities in spite the daunting challenges related to business operations in the continent.
''We acknowledge that the penetration of electronic payments in Africa is relatively low. We see this as an opportunity to create platforms that will drive commerce and improve the quality of life on the continent.” He added.
Making reference to how the company was able to surmount its challenges and grow its services over the years, he attributed it to the company’s commitment to excellence and offering values.
Elegbe revealed that when Interswitch was launched in 2002, they did not envisage the magnitude of progress recorded within short period of time.
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''It is difficult to say this is the particular secret. We knew we were going somewhere but the magnitude we did not know. Regardless of how complex our business can be, we maintained a clear mandate to create a seamless experience by creating a cashless, convenient and clear interchange'' he said.
Interswitch officially unveiled the new brand identity at an event held recently in Lagos.
Interswitch’s flagship brands; Verve and Quickteller also unveiled simplified, modernized new identities that are globally competitive.
The new logo features a simple and elegant blue, red, white colour scheme. The interswitch figure faces forward and upward with two appendages positioned in line with the word ‘interswitch’.
Interswitch is now the Nigeria’s leading payment card with over 15 million active cardholders and quick teller.With revenue growth of 1226% in the last five years, Interswitch is the fastest growing tech company in Africa according to Deloitte and the first company in West Africa to attain CMMI level 3 ratings.