Visa is thought to have invested $200m in a deal officially valuing Africa-focused payments services company Interswitch at $1bn.
Payments technology firm Visa has paid $200m to take a 20% interest in Nigeria-based electronic payments company Interswitch at a $1bn valuation, Sky News reported on Sunday.
Sources told Sky News that Visa would become a cornerstone investor through the investment, as Interswitch prepares for an initial public offering rumoured to be scheduled for 2020.
Interswitch has confirmed the valuation, but has not confirmed the size of the investment.
Founded in 2002, Interswitch supplies Africa-centred electronic payments services. Its flagship…
