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CashAfrica, a Nigerian contactless payment infrastructure provider, has partnered with ChamsSwitch, a licenced switching and electronic payment processing company, to resolve the compliance bottlenecks stalling its tap-to-pay infrastructure.
Under the partnership, CashAfrica will handle the contactless experience when a customer taps a phone or card on a point-of-sale terminal. ChamSwitch will then route the transaction between banks and update balances.
The partnership is the company’s attempt to solve the compliance problem in scaling its contactless payment solution. CashAfrica said it had deals in progress with PalmPay, AltBank, and Sterling Bank, but each stalled as partners ran into extended due diligence and regulatory concerns.
Without a licenced switching partner, the company lacked the compliance credibility that financial institutions require before integrating new payment infrastructure. With the ChamsSwitch deal, it hopes to remove that blocker in one move.
