CROSS SWITCH Announces Key Appointments to Accelerate Growth

Apr 18, 2024

MALTA, 18 April 2024 – CROSS SWITCH, provider of cutting-edge global payment processing platform CS+, proudly announces the appointment of two highly experienced payments experts to its leadership team.

Mark Chirnside joins CROSS SWITCH to spearhead the expansion of the business in all markets, while Charles Elliman will focus on driving exponential growth in Africa.

Chirnside brings over two decades of invaluable experience in the financial services industry. With a deep understanding of the evolving payments landscape and a relentless drive for innovation, Chirnside is uniquely positioned to propel CROSS SWITCH’s growth trajectory, leveraging his expertise in digital channels and revenue generation.

“CROSS SWITCH is poised for tremendous growth, especially with our focus and expertise in emerging markets. I look forward to working closely with the team to deliver innovative solutions that address the unique challenges and opportunities in this dynamic market,” said Mark Chirnside, Global Chief Revenue Officer & CEO Africa.

According to a recent report by Statista, digital payments worldwide are expected to show an annual growth rate from 2024-2028 of 9.52%, resulting in a projected total amount of US$16.62 trillion by 2028. For Africa, the total transaction value of digital payments is expected to show a higher annual growth rate of 12.65% during the same period, resulting in a projected total amount of US$314.80 billion by 2028.

In parallel, Charles Elliman, Chief Commercial Officer, assumes the role of leading CROSS SWITCH’s initiatives for this exponential growth in Africa. With a career spanning a quarter of a century, Elliman has firmly established himself as a leading specialist in the realms of e-commerce and fintech across the African continent. His appointment underscores the company’s commitment to fostering financial inclusion and driving sustainable economic development in this key emerging economy.

CROSS SWITCH’s Global CEO, Tim Davis, expressed enthusiasm about the new appointments, emphasising their strategic importance in driving the company’s mission forward. “Mark and Charles bring a wealth of experience and their expertise will be instrumental as we continue to deliver value to our partners and clients, particularly in emerging economies where the digital payments landscape is growing faster than traditional markets,” comments Davis.

ABOUT CROSS SWITCH TECHNOLOGY LIMITED.

Founded in 2021, CROSS SWITCH is a leading provider of leading-edge payment processing platform, CS+ specialising in emerging economies. CROSS SWITCH empowers organisations and businesses such as merchants, online marketplaces, PSPs, banks, and fintechs with compliant, fast-to-integrate, trusted payment services, enabling them to expand into new economies and drive growth. www.cross-switch.com

For inquiries, please contact:

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Cross Switch Ghana receives approval from the Bank of Ghana to operate as an EPSP

Mar 8, 2023

Cross Switch Ghana LTD, and Cross Switch (https://www.Cross-Switch.com) International S.A.R.L. are pleased to announce that Cross Switch Ghana LTD has obtained approval from the Bank of Ghana to operate as an Enhanced Payment Service Provider.

Cross Switch Ghana LTD was recently granted approval by the Bank of Ghana to operate as an Enhanced Payment Service Provider (EPSP). As an EPSP, Cross Switch Ghana is set to leverage its payments and technology infrastructure to digitise merchant payments, collections and disbursements for ecommerce, remittances as well as for financial inclusion.

The payments space in Ghana has been growing since the Bank of Ghana introduced the Payment Systems and Services Act (2019) and the National Payment Systems Strategic Plan (2019-2024) to create an enabling regulatory environment which fosters efficient payments, improves financial inclusion and enhances financial innovations. Concurrently, there has been strong growth in mobile money as well as other payments mechanisms. Merchants are increasingly looking for innovative, robust and scalable services such as those provided by Cross Switch Ghana and our services will enable our merchants and partners to connect and reach out to a wider customer base with state-of-the-art services. https://Cross-SwitchGhana.com

Mr. Saqib Nazir, CEO of Cross Switch Ghana said “Cross Switch Ghana, as part of the Cross Switch Group of Companies, is excited about this next step of our journey as an EPSP. We look forward to tapping into the Group’s knowledge base and expertise to provide innovative solutions to the challenges that emerging markets face. We expect to contribute significantly to the digital payments ecosystem in Africa and thus contribute to Africa’s development.”

Cross Switch International S.A.R.L. , led by Tim Davis, is a pan-African focused fintech with extensive knowledge and experience managing payment systems across emerging markets. It has developed a state-of-the-art payments platform (CS+) which is being deployed both within Africa and across other markets. Cross Switch has acquired and established a number of African technology and payments businesses. Its technology supports all payment methods utilised across the African continent. Enabling local and international merchants to send and receive monies within local markets, across Africa and into and out of Africa. Cross Switch has established and invested in companies in Benin, Egypt, Ghana, Kenya, Morocco, Nigeria and South Africa. It is expanding rapidly across Africa through green field ventures, partnerships and acquisitions, with a focus on Western Africa. Cross Switch recently announced its acquisition of a 50% stake in Vantage Payment Systems, a leading Moroccan fintech providing online payment solutions. https://www.Cross-Switch.com https://VPSCorp.ma https://Payzone.ma

Cross Switch’s CEO, Tim Davis, remarked “We have witnessed the evolution of Cross Switch Ghana from a local fintech company to a licensed Enhanced PSP. Sharing a common set of values and a common mission to democratize technology and drive social impact across Africa. With their exceptional team and proven ability to provide relevant value-added services, we believe the company will excel in the fast-moving fintech space.”

CROSS SWITCH acquires 50% stake in Vantage Payment Systems

Feb 16, 2023

Fuelling democratisation of payments in the Moroccan market with innovative – trustworthy – agile – simple – quality solutions.

CROSS SWITCH and Equity Invest are pleased to announce that CROSS SWITCH has acquired a 50% stake in Vantage Payment Systems.

Vantage Payment Systems (VPS), is a leading Moroccan fintech providing simple and secure online payment solutions. Since its establishment in 2014, VPS has acquired in-depth expertise in local payment methods in Morocco and the technology required to support its business. To meet the needs of its customers in the new digital age. VPS offers various multi-channel payment services to e-commerce merchants, e-Gov, and multiple customers in different sectors. It owns the brands Payzone and Payexpress and also manages a number of prepaid card programs with different partners. (VPScorp.ma) (Payzone.ma).

As part of the transaction, VPS has raised its capital to 10 Million Dhs, has nominated Mr Mustapha Badr Ezzaman as managing director and its founder, Mr. Ali Bettahi, as President of its board. VPS has also nominated a new board with different members from the fintech industry with deep international experience.

Cross Switch Luxembourg (CSL), led by Tim Davis, is a pan-African focused fintech with extensive knowledge and experience managing payment systems across emerging markets. It has developed a state-of-the-art payments platform (CS+) and has acquired and established a number of African technology and payments businesses. CSL’s technology supports all payment methods utilised across the African continent. Enabling local and international merchants to send and receive monies within local markets, across Africa and into and out of Africa. CSL has established in Benin, Egypt, Ghana, Kenya, Morocco, Nigeria and South Africa and is expanding rapidly across Africa through green field ventures, partnerships and acquisitions. www.Cross-Switch.com

Equity Invest (EI), is a Morocco based technology holding company which invests in leaders in their respective sectors at the forefront of technology. Providing innovative solutions to its clients from various sectors such as banking, industry, public institutions, defence, cities, and private companies. EI remains a 50% shareholder of VPS. In addition to VPS, EI also owns significant interests in different technology companies in different sectors: Fintech, energy, security and IT, and digital services. EI was founded by Mr. Ali Bettahi in 2014, and has ambitions to become a leading technology operator in Africa.