Interswitch Retail Summit Unites Leaders to Drive Profitability via Payment Innovation

Interswitch recently hosted its Retail Summit, bringing together key stakeholders across Nigeria’s retail ecosystem to explore practical strategies for improving efficiency, driving profitability, and enabling sustainable growth.

Anchored on the theme, “The Modern Retail Playbook: What Works, What’s Changing, What’s Next?”, the summit served as a platform for high-level, solution-focused conversations on the evolving retail landscape.

Discussions centred on addressing persistent industry challenges, including payment inefficiencies, margin pressures, and shifting consumer expectations.

A key highlight of the summit was the growing call for stronger collaboration between the private sector and government to unlock new opportunities for retailers.

Stakeholders emphasised the importance of enabling policies, improved infrastructure, and inclusive financial systems in supporting scalability and long-term growth.

Setting the tone for the conversations, Osasere Atohenghe, vice president, Sales and Account Management, Interswitch, emphasised the importance of bringing industry players together to address shared challenges and unlock new value.

“We are at a defining moment for the retail industry, where consumer expectations are evolving at an unprecedented pace. Today’s customers expect speed, reliability, security, and seamless experiences across every touchpoint, whether physical or digital. At Interswitch, we see this as an opportunity to bring stakeholders together to move beyond identifying challenges, towards sharing practical insights and collaborating on solutions that can drive real impact across the ecosystem,” Atohenghe said.

Delivering the keynote address, Chidi Okoro, faculty member, Lagos Business School and Founder/Executive Business Consultant, highlighted the critical role of innovation in shaping the future of retail, particularly at the intersection of physical and digital commerce.

“The retail ecosystem must evolve with purpose. We are seeing a clear convergence between digital and physical retail channels, and businesses must intentionally design models that reflect this reality. It’s about enabling seamless customer access, making better use of data, and strengthening inventory intelligence. Importantly, innovation does not happen in isolation, it requires sustained investment in systems, resources, and capability,” he noted.

Reflecting on the broader implications for the industry, Olawale Akanbi, group head, Growth Marketing, Interswitch, emphasised that the true value of the forum lies in how insights shared are translated into tangible business outcomes across the retail ecosystem.

He said:

“What we have seen today goes beyond conversation, it reflects a shared commitment to moving the retail industry forward. The real impact will be measured by what happens next: how businesses refine their strategies, adopt new technologies, and build partnerships that drive growth. At Interswitch, we remain committed to supporting this journey by enabling solutions that improve efficiency, enhance customer experiences, and unlock new opportunities.”

From a market intelligence perspective, David Emeh, head of Business Development, West Africa, NIQ, highlighted the need for increased investment across the retail value chain to drive improved business outcomes.

“Greater investment is required across the retail value chain, from payment processing and collections to inventory systems, customer data infrastructure, and retail financing. Retailers need access to structured data that supports deeper customer insights, improves decision-making, and ultimately drives efficiency and profitability,” he said.

The summit also explored how integrated payment solutions can reduce checkout friction, simplify reconciliation processes, and improve revenue retention, key drivers of resilience and competitiveness in today’s retail environment.

Participants engaged in interactive sessions where real business challenges were discussed, with industry experts offering practical, actionable solutions tailored to the realities of the Nigerian market.

The event also featured a live demonstration of Interswitch’s technology-driven solutions designed to enhance retail performance, including digital promotional capabilities and seamless till integration.

These solutions were showcased to demonstrate how retailers can improve transaction efficiency, streamline operations, and strengthen overall unit economics.

Beyond the sessions, the Interswitch Retail Summit facilitated meaningful engagement between stakeholders and solution providers, creating opportunities for collaboration and strategic partnerships across the retail value chain.

Interswitch remains committed to supporting the continued evolution of Nigeria’s retail ecosystem by delivering integrated solutions that enable businesses to operate more efficiently, scale sustainably, and meet the demands of a rapidly changing market.

As the retail landscape continues to evolve, platforms like the Interswitch Retail Summit will play an increasingly important role in fostering the collaboration, insight, and execution required to drive long-term industry growth.

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