Question 1

What does Interswitch do?

Accepted Answer

Interswitch Group is Nigeria's pioneering payment infrastructure company and the creator of the Verve card network — the most widely used debit card in Nigeria with over 35 million cardholders. Founded in 2002 and listed on the Nigerian Stock Exchange, Interswitch owns and operates Nigeria's core payment switching infrastructure, connecting virtually all Nigerian banks. The company provides developer access to its infrastructure through the Interswitch Developer Center and the Quickteller Business platform.

What the API Does

The Interswitch API ecosystem covers multiple products: (1) Quickteller SVA — access to 3,000+ billers for airtime vending, utility payments, and transfers to all Nigerian banks and selected African mobile wallets; (2) Quickteller Business — a comprehensive payment gateway for card acceptance, USSD, QR, hosted fields, and mobile SDKs; (3) Virtual Accounts — for NGN collections via dedicated account numbers; (4) NIP Instant Transfers — for bank-to-bank transfers across the Nigerian banking system.

How Developers Use It

Developers sign up at docs.interswitchgroup.com, create an app in the developer console, and obtain a Client ID and Secret Key for OAuth 2.0 authentication. The API uses standard OAuth 2.0 authorization to generate access tokens. A sandbox environment is available for testing with test credentials. Integration options include REST API, hosted fields (for PCI-compliant card capture), web gateway, and mobile SDKs.

Pricing

Integration is free — no setup or monthly fees. Local transactions (cards, USSD, QR): 1.5% capped at ₦2,000. 7.5% VAT applies to all transaction fees. Volume-based custom pricing available for high-volume merchants — contact sales.

Authentication

OAuth 2.0 using Client ID and Secret Key from the developer console. Access tokens are generated and included in API request headers. Token expiry and refresh are managed per OAuth 2.0 standards.

Compliance

Interswitch is CBN-licensed, PCIDSS certified, and regulated as a switching and processing company under Nigerian financial regulations. As an NSE-listed company it is subject to SEC and public disclosure requirements.

Challenges and Gotchas

(1) OAuth 2.0 is more complex to implement than simple Bearer token APIs — requires proper token management. (2) Quickteller SVA and Quickteller Business are separate products with different documentation. (3) Settlement takes up to 48 hours — not instant. (4) Verve card processing is Interswitch's core strength; for international card processing, competitors like Paystack may offer better rates.

Company Background

Interswitch was founded in 2002 by Mitchell Elegbe in Lagos. The company processes hundreds of millions of transactions monthly and serves over 40,000 merchants across Nigeria. Interswitch is valued at over $1 billion, making it one of Africa's fintech unicorns. Products include Verve, Quickteller, Paydirect, and eClat.

FAQs

Q: What is the fee for local card transactions?
A: 1.5% capped at ₦2,000, plus 7.5% VAT on the fee.

Q: Does Interswitch support 3,000+ billers?
A: Yes. Quickteller SVA gives access to airtime, utilities, and thousands of Nigerian billers.

Q: What authentication does Interswitch use?
A: OAuth 2.0. You get a Client ID and Secret Key from the developer console to generate access tokens.

Q: Is there a sandbox?
A: Yes. Available at docs.interswitchgroup.com with test credentials.

Interswitch's Verve card network — with over 40 million active cards issued by virtually every Nigerian bank — is one of the most important domestic payment assets in the country. Merchants and platforms integrated with Interswitch gain acceptance of Verve cards, which are the primary debit cards for millions of Nigerian bank customers who may not have international Visa or Mastercard credentials. For consumer-facing Nigerian businesses where Verve card acceptance determines accessibility to a large portion of the Nigerian banked population, Interswitch integration is often essential rather than optional.

The NIP (NIBSS Instant Payment) switch that Interswitch helps power enables instant settlement between banks across Nigeria, with transactions completing within seconds rather than the 24-hour windows of older payment systems. For Nigerian businesses where payment confirmation delays affect operational workflows — logistics companies confirming payment before dispatch, service providers starting work after payment, retailers managing inventory allocation — NIP instant payment confirmation through Interswitch's infrastructure removes settlement uncertainty from business operations.

Interswitch's three-plus decades of operation in Nigeria represent institutional knowledge of Nigerian payment infrastructure that newer entrants cannot match. The company has navigated multiple CBN regulatory cycles, multiple technology infrastructure shifts, and the evolution of Nigerian consumer payment behavior from cash to cards to mobile. For Nigerian enterprises selecting long-term payment infrastructure partners, this institutional longevity and demonstrated resilience is a meaningful factor in vendor selection.

Question 2

How much does Interswitch cost?

Accepted Answer

Interswitch is free to start, with paid tiers for higher usage (freemium). Integration free. Local transactions: 1.5% capped at ₦2,000 (7.5% VAT applies). Customized volume pricing available for high-volume merchants. Settlement within 48 hours.

Question 3

How do I authenticate with the Interswitch API?

Accepted Answer

OAuth 2.0 (Client ID + Secret Key from developer console)

Question 4

Is there a rate limit on Interswitch?

Accepted Answer

Not publicly specified

Question 5

Does Interswitch offer a sandbox or test mode?

Accepted Answer

Yes — Interswitch provides a sandbox or test environment so you can integrate and test before going live.

Question 6

What is Interswitch best suited for?

Accepted Answer

Nigerian enterprises, banks, fintechs, and businesses needing access to Interswitch's 3,000+ biller network, airtime vending, NIP instant transfers, and the Verve card network — backed by Nigeria's oldest and largest payment infrastructure company.

Question 7

Is there anything else I should know before integrating Interswitch?

Accepted Answer

Interswitch is the creator of the Verve card network and owns the Quickteller brand. OAuth 2.0 authentication. Local fee 1.5% capped at ₦2,000. Developer console at developer.interswitch.com. 7.5% VAT applies to all transaction fees.

Question 8

Where can I find Interswitch's documentation?

Accepted Answer

The official API documentation is at https://docs.interswitchgroup.com/docs/home. The provider's website is https://interswitchgroup.com.

Question 9

Does Interswitch support Nigerian developers?

Accepted Answer

Yes — Interswitch explicitly supports Nigerian developers/use cases.

Interswitch

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