Interswitch, banks advance smartphone-based payments with tokenisation

Interswitch Group and its partner banks are advancing the deployment of payment tokenisation in Nigeria, introducing technology designed to replace sensitive card details with secure digital tokens and enable contactless payments through compatible smartphones and other connected devices.
The initiative marks a new phase in the evolution of Nigeria’s digital payments infrastructure, with the technology expected to support faster point-of-sale transactions, improve the protection of payment credentials and expand the use of digital wallets across the financial ecosystem.
Speaking at the premiere of Interswitch’s tokenisation documentary in Lagos, the company’s Managing Director of Pay...