ADVERTISEMENT
TechEconomy
Friday, June 6, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » ProvidusBank, Mastercard, Interswitch and Thales Launch Contactless Tap-to-Pay Transactions in Nigeria

ProvidusBank, Mastercard, Interswitch and Thales Launch Contactless Tap-to-Pay Transactions in Nigeria

Yinka Okeowo by Yinka Okeowo
September 7, 2022
in Finance
1
ProvidusBank, Mastercard, Interswitch and Thales Tap-to-Pay
ProvidusBank | Interswitch | Mastercard | Thales

ProvidusBank, Mastercard, Interswitch and Thales contactless payment

RelatedPosts

Nigeria and USD, Nigerian Banking System - Naira Appreciate

Naira Continues to Appreciate in Official Market, Closes at N1,553/$1

June 6, 2025

Naira Strengthens Further in Official Market, Closes at N1,565/$1

June 5, 2025

In a move to further reduce dependency on cash transactions, stimulate innovation and drive the growth of digital payments in Nigeria, ProvidusBank together with Mastercard, Interswitch and Thales Group, today announced the introduction of a new Tap-to-Pay service.

The service allows cardholders to make fast, secure, and convenient in-store payments by tapping their NFC enabled smart device at any contactless-enabled payment terminal.

The solution works by enabling a connected device such as a smartphone or wearable device to act as a safe and secure payment method in the same way as a physical card.

Leveraging Mastercard’s Digital Enablement Service (MDES), and Interswitch’s tokenization capability, ProvidusBank customers can enjoy a new level of convenience, no longer needing a card or a physical wallet during shopping trips.

For each transaction, Mastercard’s tokenization and digitization technology replaces primary account numbers (PANs) with tokens to provide a faster, more secure, and seamless checkout experience while rendering card numbers useless to fraudsters.

“Technology has evolved greatly in Sub-Saharan Africa in the last decade with the mobile phone technology playing a significant role in that space.

As a Bank, our collaboration with Mastercard and Interswitch to provide additional value through the mobile device is a strategy to leverage existing infrastructure, while delivering simplified payment through their advanced digital and tokenisation services,” said Walter Akpani, Managing Director/CEO, ProvidusBank.

All Mastercard transactions are made with industry-standard EMV-level security and are protected using standards-based payment tokens.

“The convergence of physical and digital commerce is not in the future, it’s happening now. At Mastercard, we understand that consumers want to make digital payments when, where and how they want, with the same protection and security offered with a physical card,” says Ebehijie Momoh, Country Manager & Area Business Head, West Africa at Mastercard.

“As a pioneer of mobile commerce innovation, we are excited to work with ProvidusBank to deliver a new payment experience that is both seamless and secure, in turn speeding the adoption of digital payments in Nigeria.”

Akeem Lawal, Managing Director, Interswitch Purepay also commented on the collaboration. According to him: “With the increasing adoption of digital payments, there has been the corresponding need for players in the payments ecosystem to heighten the safety and security of payment platforms and channels.

This notion is the underpinning rationale behind Interswitch’s collaboration with Providus Bank, Thales Group and Mastercard to deliver the tokenization technology, providing an added security layer and ensuring safer and more seamless payment transactions. At Interswitch, we continue to leverage key partnerships that push the boundaries of innovation.”

To use the service, customers need to first digitize their card as a once off set-up by following instructions in their banking app. Once the card credentials are provisioned to a mobile device, a cardholder can tap to pay simply by opening their banking app, selecting NFC payments, tapping their phone at the Point of Sale and entering their PIN to complete the transaction. They can also make safe and seamless in-app and e-commerce payments.

The service allows cardholders to make fast, secure, and convenient in-store payments by tapping their NFC enabled smart device at any contactless-enabled payment terminal.

Speaking in the same vein, Nassir Ghrous, VP Sales Banking and Payments Services at Thales Group, a global leader in advanced technologies said: “We are excited to bring our digital security expertise to bear in developing the tokenization solution with innovators such as Interswitch, Providus Bank and Mastercard, to enhance the payment ecosystem in Nigeria.

With EMV tokenization, the consumer’s actual 16-digit card number is protected from being exposed online during the transaction. The solution also allows Providus cardholders to benefit from contactless payment via their mobile devices, enjoying a full, easy and convenient ‘Digital Journey’.”

Loading

Advertisements
MTN ADS

Author

  • Yinka Okeowo
    Yinka Okeowo

    View all posts
0Shares
Tags: MastercardProvidusBankTap To Pay
Previous Post

Microsoft’s Yemi Orimolade to Speak at EnterpriseCEO Media Masterclass

Next Post

MTN and Dooka Want to Ease Corporate Procurement in Africa

Yinka Okeowo

Yinka Okeowo

Related Posts

Nigeria and USD, Nigerian Banking System - Naira Appreciate
Finance

Naira Continues to Appreciate in Official Market, Closes at N1,553/$1

by Latifat Fashina
June 6, 2025
0

The naira strengthened further in the official market on Thursday and closed at N1,553/$1, a 0.77% appreciation from the previous...

Read more
Hot money in Nigeria - Naira | official market

Naira Strengthens Further in Official Market, Closes at N1,565/$1

June 5, 2025
Naira vs Dollar | Asset management

Naira Appreciates to N1,579/$1 as Market Confidence Grows

June 4, 2025
Tony Elumelu, chairman of UBA

Tony Elumelu Buys N43.9bn Worth of UBA Shares to Boost Stake

June 3, 2025
NairaWatch, Naira and dollar

Naira Appreciates, Closes at N1,582/$1 in Official Market

June 3, 2025
Agentforce for financial services by Salesforce

Salesforce Introduces Agentforce for Financial Services to Address Shrinking Workforces

June 2, 2025
Next Post

MTN and Dooka Want to Ease Corporate Procurement in Africa

Comments 1

  1. Pingback: MSMEs Welcome Providus Amphi Card Powered by Mastercard  - Tech | Business | Economy

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.