Akeem Lawal, Managing Director for Payment Processing and Switching at Interswitch, has identified rigid border systems and currency disparities as major obstacles hindering the growth of digital technology and businesses across Africa.
Speaking at the Interswitch Techconnect 4.0 conference in Lagos, Lawal emphasized that these barriers limit cross-border transactions and impede the seamless flow of goods and services. He expressed optimism, however, that technological advancements can help address these challenges within the next few years.
Another significant concern raised by Lawal is the prevalence of fraud in the digital ecosystem. He acknowledged that while this is a global issue, Nigeria has made strides in combating fraud through education, enhanced customer onboarding processes, and the deployment of advanced fraud detection technologies.
Interswitch, a leading payment solutions provider in Africa, has been instrumental in driving digital innovation and financial inclusion across the continent. By addressing the challenges posed by border restrictions and fraud, the company aims to further empower individuals and businesses to thrive in the digital age.
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