Online transactions in Nigeria are safe – Interswitch


Titilola Shogaolu, chief payment and value added services officer at Interswitch Limited, has declared that online transactions in Nigeria are safe, despite the poor reputation of the country’s internet usage.
Speaking at the one year anniversary of e-commerce site Jumia,  Shogaolu said various online payment service providers have significantly upgraded their measures to the acceptable standard in any part of the world in order to ensure the safety of their customers’ online transactions.She said the current level of security at Interswitch has been greatly enhanced by the company’s working partnership with banks, together with which certain security measures such as hardware and SMS tokens have been put in place to ensure the security of transactions.Shogaolu added the company is also fostering security by introducing market categorization that allows easy detection of fraud patterns.“Before, when there is a security breach at any bank, it usually stays within the bank and the perpetrators can easily move to other banks and use the same strategy,” Shogaolu said. “But now, all the banks are open to one another and they share information on scams and frauds within their banks so that other banks don’t fall victim and perpetrators could be easily apprehended.”

She also disclosed the company’s ongoing community social responsibility (CSR) projects which include the Interswitch challenge through which winners get jobs at the company, and the recently developed e-payment curriculum which is a course that could be taken online.

“Certificates are awarded and could be used to seek for employment,” she said.

by Paul Adepoju

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