Interswitch and Multipay Congo Join Forces to Drive Digital Payments Advancements in DRC.

04 May 2024

A strategic partnership between Interswitch, a leading integrated payments and digital commerce company in Africa, and Multipay Congo, a pioneer fintech in the Democratic Republic of the Congo (DRC), marks a significant step towards revolutionizing the DRC's payment ecosystem. This collaboration leverages Interswitch's proven expertise and technology to offer innovative and secure digital payment solutions, fostering financial inclusion, digital transformation, and economic growth within the country.

Responding to the DRC's burgeoning market demands, the partnership empowers Multipay Congo to tap into Interswitch's extensive knowledge and resources. This translates to delivering cutting-edge digital payment solutions catering to the Congolese market, paving the way for broader financial inclusion, accelerated digital uptake, and a stronger economic landscape.

Multipay Congo, established in 2015, boasts a trailblazing history, having launched the DRC's first local interbank payment service, aptly named "Multipay." Collaborating with prominent banks like Equity BCDC, FirstBank DRC, and Rawbank, Multipay facilitated ATM transactions, point-of-sale transactions, and bank branch services for local cardholders.

Interswitch, a powerhouse in the African digital payments and commerce domain since 2002, operates in over 14 countries, facilitating seamless money movement and value exchange. Their diverse portfolio of cards, digital tokens, online stores, and payment platforms empower businesses and individuals across the continent to thrive.

Olivier Bueno, Managing Director of Multipay Congo, enthusiastically expressed, "Partnering with Interswitch, another frontrunner in African digital payments, is thrilling. This alliance fuels our commitment to actively contribute to the Central Bank of Congo's financial inclusion goals. We aim to develop accessible, secure, and innovative digital financial products and services tailored to the needs of the Congolese population and businesses."

Underscoring the mutual benefits of this partnership, Akeem Lawal, Managing Director of Payment Processing and Switching (Interswitch Purepay), stated, "We are excited to collaborate with Multipay Congo and introduce our transformative payment solutions to the DRC. This aligns perfectly with our expansion endeavors across Africa, where we strive to develop and deploy solutions that integrate payments seamlessly into everyday life. Strengthening our presence in the DRC, one of Africa's most populous and promising markets, allows us to work closely with relevant authorities and financial service providers to deliver safe, reliable, and convenient financial services to the Congolese populace and businesses."

With a population exceeding 100 million and a GDP surpassing $40 billion, the DRC stands to benefit immensely from this collaboration. The anticipated outcomes include accelerated financial inclusion, robust economic growth, and enhanced social development within the country.

Interswitch, with its established presence in over 14 African countries, is poised to solidify its operations in the DRC. This partnership with Multipay Congo exemplifies the payment giant's unwavering commitment to expanding its footprint in Africa and beyond, ultimately aiming to bridge the financial inclusion gap and improve access to financial services across the continent.

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