{"id":31677,"date":"2019-05-05T17:41:29","date_gmt":"2019-05-05T16:41:29","guid":{"rendered":"https:\/\/nationalwire.com.ng\/?p=31677"},"modified":"2019-05-05T18:09:49","modified_gmt":"2019-05-05T17:09:49","slug":"interswitch-signs-n26bn-deal-on-transportation-ticketing","status":"publish","type":"post","link":"https:\/\/nationalwire.com.ng\/sub\/interswitch-signs-n26bn-deal-on-transportation-ticketing\/","title":{"rendered":"Interswitch Signs N26bn Deal\u00a0 On Transportation Ticketing"},"content":{"rendered":"<div>Tayo Olanipekun<\/div>\n<div><\/div>\n<div>Interswitch Group has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria.<\/div>\n<div><\/div>\n<div><\/div>\n<div>The N26 billion (\u00a356 million ) deal is aimed at leveraging British technology to keep Nigeria\u2019s commuters on the move with the launch of three products developed exclusively for the Nigerian market &#8211; the BeCard, the BeVal and the BeReader, with scope to expand this offer throughout Africa.<\/div>\n<div><\/div>\n<div><\/div>\n<div>The BeCard is a regular shaped card &#8211; like any bank card or the Oyster card in London. The BeVal is the device that is installed on the buses where the passenger taps on &#8211; just like on the London buses, while BeReader is the mechanism that makes all these work.<\/div>\n<div><\/div>\n<div><\/div>\n<div>Commenting on the partnership, Akeem Lawal, Divisional CEO for Payment Processing at Interswitch highlighted the potential the partnership offers for revolutionizing the transportation system with attendant impact on millions of commuters in Nigeria.<\/div>\n<div><\/div>\n<div><\/div>\n<div>He said: \u201cInterswitch believes that the transport system in Nigeria, Africa\u2019s largest consumer market, is ready for innovation. This partnership is a key and timely milestone in our industry vertical markets\u2019 focus. It is highly compatible with our vision for Interswitch Transport Solutions (Smartmove) which is essentially to progressively facilitate a multi-modal and multi-operator transportation system underpinned by best-in-class technology\u201d.<\/div>\n<div><\/div>\n<div><\/div>\n<div>\u201cThis not only optimizes available infrastructural capacity, but also remarkably improves user experience for all parties in the transport and mobility ecosystem. Our partners, Bekoz, bring their expertise and experience to bear, and we are extremely optimistic about the multiplier effects that this initiative will ultimately have on economic activities across the nation,\u201d he added.<\/div>\n<div><\/div>\n<div><\/div>\n<div>Bekoz has co-created the technology with the Nigeria Pan-African integrated digital payments and commerce company, and owns the intellectual property (IP) while the specifications and manufacturing is done by Delta Microelectronics, a global engineering company with a long and proud history of demonstrated excellence.<\/div>\n<div><\/div>\n<div><\/div>\n<div>Speaking in Abuja, at the signing ceremony Jeremy Hunt, the British Foreign Secretary announced that Bekoz will be providing the contactless transit token technology and associated electronic equipment that allows people to travel around Nigeria\u2019s large and varied transport infrastructure, similar to London\u2019s Oyster system. However this will be tailored to Nigeria\u2019s unique needs.<\/div>\n<div><\/div>\n<div><\/div>\n<div>Hunt said:\u00a0 \u201cThis is a great example of British and Nigerian companies working side by side to deliver a better, more prosperous future for us all.\u00a0 As we leave the European Union, now is the time to redouble our efforts, and commit to the partnerships we have with our African friends.\u201d<\/div>\n<div><\/div>\n<div><\/div>\n<div>Also commenting, Jack Dangoor, CEO of Bekoz said: \u201cWe are delighted to collaborate with Interswitch to deliver a British-made fully custom transport ticketing system for Nigeria and other parts of Africa. The ecosystem of the Bekoz solution will provide significant retail business and job opportunities in Nigeria and beyond.\u201d<\/div>\n<div><\/div>\n<div><\/div>\n<div>In the UK or U.S topping up an Oyster or other similar cards are quite easy. However, factors like limited network connectivity and little or no electricity might make topping the BeCard in Nigeria more difficult.\u00a0 That is why the BeReader is solar powered and does not require network connection all the time.<\/div>\n<div><\/div>\n<div><\/div>\n<div>Much of the manufacturing will be done in UK, and the deal is expected to create jobs in the Nigerian business and transportation environment.<\/div>\n<\/p><div data-ad-id=\"32665\" style=\"text-align:center; margin-top:0px; margin-bottom:0px; margin-left:0px; margin-right:0px;float:none;\" class=\"afw afw_ad_image afw_ad afwadid-32665  \">\r\n                                                            <div style=\"font-size:10px;text-align:center;color:#cccccc;\">Advertisement<\/div>\r\n\t\t\t\t\t\t\t<a target=\"_blank\" href=\"http:\/\/www.accessbankplc.com\" rel=\"nofollow\"><img decoding=\"async\" height=\"auto\" max-width=\"100%\" src=\"https:\/\/nationalwire.com.ng\/wp-content\/uploads\/2019\/06\/Banner-1.jpg\"><\/a>\r\n                                                                        \r\n\t\t\t\t\t\t\t<\/div><!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>Tayo Olanipekun Interswitch Group has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria. The N26 billion (\u00a356 million ) deal is aimed at leveraging British technology to keep Nigeria\u2019s commuters on the move with the launch of three products developed exclusively for the &hellip;<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":9,"featured_media":10563,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[23,17],"tags":[5561,5562,5565,5564,5563,4877,5558],"coauthors":[2387],"class_list":["post-31677","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-business","category-news","tag-akeem-lawal","tag-becard","tag-bekoz","tag-bereader","tag-beval","tag-interswitch","tag-jeremy-hunt"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v18.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Interswitch Signs N26bn Deal\u00a0 On Transportation Ticketing - National Wire<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nationalwire.com.ng\/sub\/interswitch-signs-n26bn-deal-on-transportation-ticketing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Interswitch Signs N26bn Deal\u00a0 On Transportation Ticketing - National Wire\" \/>\n<meta property=\"og:description\" content=\"Tayo Olanipekun Interswitch Group has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria. 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