Interswitch, Africa’s leading integrated payments and digital commerce company, embarked on a major strategic project to expand its payments processing business across the continent. In order to turn these ambitious growth plans into a reality, Interswitch identified the need to replace its two separate card management systems (CMS) with one in-house payments platform. Its previous legacy systems were difficult and costly to maintain, and the ability to make modifications and enhancements had become increasingly challenging. Following a rigorous selection process, Interswitch chose to migrate its entire credit card processing business to the award-winning, open development payments platform TranzAxis, from Compass Plus Technologies.
Compass Plus Technologies completed the extensive multi-phased project fully remotely, whilst navigating various Covid-19 restrictions. Today, Interswitch’s major bank customers are using TranzAxis for Visa and Mastercard credit card issuance. This major overhaul also helped the processor to further expand its Verve brand, leading to the launch of a new revolving credit card product in collaboration with Sterling Bank of Nigeria.