Interswitch says more banks are ready for tap-to-pay, but consumers need convincing
- Interswitch identifies consumer education as the primary barrier to mainstream tap-to-pay adoption in Nigeria.
- Mastercard and Interswitch launched Google Pay in Nigeria, allowing eligible users to add cards to Google Wallet.
- Interswitch collaborates with five Nigerian banks to expand tokenized tap-to-pay transactions.
The focus on consumer education by Interswitch is a critical step towards overcoming the barriers to tap-to-pay adoption in Nigeria. However, the company must also address the underlying infrastructure challenges and consumer skepticism to ensure the success of this payment method. A comprehensive strategy that combines education, infrastructure development, and partnerships with merchants will be essential for widespread acceptance.
