After botched acquisition of Konga, Interswitch floats eCommerce site

After botched acquisition of Konga, Interswitch floats eCommerce site

After its plan to acquire Konga failed to pull through, Interswitch, Nigeria’s largest payment processor, has finally floated its own eCommerce site.

Called Quickteller Global Mall, the company said the mall will allow customers to shop directly from over 100 international stores, including: Amazon, Zara, eBay and Macy’s, and pay in Naira.

It would be recalled that we reported exclusively that Konga was targeted for acquisition by Interswitch, a deal that did not pull through as a result of various disagreements on the terms of the deal with the former owners, Kinnevik and Naspers.

Konga has since been acquired for nearly less than (reportedly put for $ million ) 90% of its worth by Zinox Group, a local computer and IT service provider for the public and private companies.

Adetayo Teluwo, Group Head, Digital Payments, Digital Payments, Products & Marketing Management at Interswitch, explained that the product was borne out of a need to cater to the needs of their teeming customers, and has also been tested and proven to be reliable. He said: “This product was borne out of a rigorous series of surveys, user interviews and user testing which we have piloted with a couple of Quickteller’s most loyal users, and they share our excitement at this innovation”.

“The beauty about the service is that the customer does not need to bother about changing currencies or looking for forex. All payments are done in Naira. How convenient is this? I will say, very, meaning this is something every business person should take advantage of”, Teluwo added.