InterSwitch, ISOs, 3 others partner on 50,000 POS

Premier transaction switching and processing company, InterSwitch, along with its Electronic Fund Transfer Point of Sale (E-POS), the Independence Service Organisations (ISOs), have sealed deal with Verifone, Lipman and Ingenico for the purchasing of 50,000 Point-of-Sale (POS) terminals.

The selection of Verifone, Lipman and Ingenico, according to the Group Head, Service Delivery at InterSwitch, Mr. Akeem Lawal, was based on their positions as leading suppliers of wireless point-of-sale terminals for the operation of cashless project after a review of various E-POS terminal manufacturers.

He emphasized that one critical factor in the vendor selection was the commitment of these vendors to have a long term view of the market as well as provide local support in the country to the ISO community.

"As part of this deal, the manufacturers via their authorized resellers, have offered discounted pricing for these terminals to the ISO community in their bid to support the introduction and launch of the first ever online real-time transactions using POS terminals in Nigeria," he explained.

Mr. Lawal said, the first batch of terminals for the pilot has been delivered and is currently being rolled out to selected merchant locations.

A press statement from InterSwitch made available to Champion Infotel, quoted Verifone representative as saying, "The evolving payment market in Nigeria represents a significant opportunity for Verifone to provide its solutions not only to the banking sector, but also to other value-driven projects in government, health, transportation and telecommunications."

Also, according to Lipman’s representative, "This order from the ISOs represents the success of our continuing strategic efforts to achieve growth in new market segments. We are pleased to have been selected as one of the preferred POS vendor for Nigeria and are confident that the Lipman POS solution will be an integral part of success of the planned Operation Cashless Initiative."

Mr. Lawal, further said, "InterSwitch is pleased to have Lipman, Ingenico and Verifone as its preferred POS solution providers.

In addition to the quality and reliability advantages of these terminals over solutions we tested, we were extremely impressed by Lipman and Verifone’s service and support capabilities".