Interswitch Announces Merger with M-Kudi, Aiming for Payment Service Bank License in Nigeria

In a strategic move, Interswitch, backed by Visa, has revealed its merger plans with mobile money provider M-Kudi, signaling its intent to secure a Payment Service Bank (PSB) license from the Central Bank of Nigeria.

The merger, contingent on regulatory approval, marks a significant shift for Interswitch as it looks to expand beyond traditional payment services.

Visa-Backed Interswitch Pursues Payment Service Bank License Through Merger with M-Kudi

In a bid to diversify its offerings, Interswitch, with Visa’s support, is actively seeking a Payment Service Bank (PSB) license by merging with M-Kudi, a prominent mobile money provider.

This strategic move aligns with Interswitch’s goal to extend its services beyond payment solutions and enter the realm of banking services.

Nigerian Fintech Giant Interswitch Seeks Regulatory Approval for Merger with Mobile Money Provider M-Kudi

Nigeria’s payments giant, Interswitch, is set to undergo a transformative merger with M-Kudi, a mobile money provider, pending regulatory approval.

The primary objective behind this strategic move is to obtain a Payment Service Bank (PSB) license from the Central Bank of Nigeria, enabling Interswitch to offer a broader range of financial services.

Interswitch Expands Service Offering with M-Kudi Merger, Targets Central Bank’s Payment Service Bank License

In a groundbreaking development, Interswitch is expanding its service portfolio through a merger with M-Kudi, emphasizing its pursuit of a Payment Service Bank (PSB) license from the Central Bank of Nigeria.

This strategic collaboration aims to position Interswitch as a comprehensive financial service provider, capable of holding customer deposits and offering non-payment services.

Fintech Powerhouse Interswitch Set to Revolutionize Banking with Merger with M-Kudi for PSB License

Interswitch, a leading fintech entity supported by Visa, is gearing up for a revolutionary transformation in the banking sector.

The proposed merger with M-Kudi, coupled with the ambition to obtain a Payment Service Bank (PSB) license, signals Interswitch’s commitment to redefine its role in the financial landscape, offering innovative and inclusive banking solutions.

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