Incredible!!! Interswitch loses bid for PTSP & PTSA. ITEX picks up CBN license for PTSP & PTSA

Guyz,

I think the news of the week so far is this emerging drama in the Banking Industry. After the Central Bank of Nigeria announced the Payment Terminal Service Provider(PTSP)' s licensing process last month,everyone believed Interswitch would certainly be on the final list. Not because Interswitch is an expert in the Point-of-Sale business but because of the 'big' name. What we all know Interswitch for is Switching,then maybe QuickTeller.

But as i gist you right now,5 companies have been licensed for PTSP and Interswitch is not one of them.

Interswitch also bidded for the Payment Terminal Service Aggregator (PTSA). This is the Terminal Management System (TMS) that will be active at the Nigerian Inter-Bank Settlement Scheme(NIBSS). This TMS is what all the 5 PTSPs will be connecting to. Itex Integrated Service (IISYS) is the licensed PTSA!!!

 The 5 licensed PTSPs are:

1) Itex Integrated Systems(IISYS)

2)ValuCard Nig

3)E-Top

4)Citi-Serve

5)PayMaster

So that's whatz up guyz. Promise to keep you updated.