Interswitch, Nigeria's largest payments infrastructure group, recorded revenue of ₦137.5 billion for the financial year ended March 2025, representing a 50% year-on-year increase from its prior filing. The results, disclosed in December 2025, underline the group's position as one of Africa's most significant homegrown financial technology businesses and demonstrate the scale of growth that Nigeria's digital payments market continues to generate.
Pre-tax profit climbed to ₦23 billion over the same period, reflecting the operating leverage embedded in the company's transaction-processing infrastructure. The strong profit performance came alongside a major milestone for Verve, Interswitch's proprietary card scheme, which surpassed 100 million cards issued across the African continent — a figure that positions it among a select group of payment networks to have achieved that scale on African soil.
VERVE CROSSES CONTINENTAL MILESTONE
The 100 million card figure places Verve among a small number of card schemes that have achieved genuine continental scale in Africa, where payments infrastructure has historically been dominated by international networks. Interswitch has spent more than two decades building the underlying rails — switching, processing, and identity verification — that Verve relies upon, giving the scheme a structural cost advantage in its home markets. The milestone also serves as a commercial validation of Interswitch's long-term investment in building domestically owned financial infrastructure.
Nigeria contributed 90% of Interswitch's total revenue for the year, reflecting the group's continued reliance on its home market even as it pursues selective expansion into other African economies. The high concentration in Nigeria also means the company's financial performance remains closely tied to macroeconomic conditions in Africa's largest economy, including movements in the naira exchange rate and trends in consumer and merchant spending volumes.
Interswitch was named among CNBC and Statista's Top 300 Global Fintech Companies in July 2025, a recognition the company cited as external validation of its standing in the broader international payments landscape. The accolade reflects growing international attention on African fintech players as the continent's digital payments volumes continue to expand, driven by smartphone penetration, regulatory reform, and the formalisation of previously cash-dependent economic activity.
GROWTH TRAJECTORY AND MARKET CONTEXT
The 50% revenue growth rate marks a sharp acceleration for Interswitch at a time when Nigerian businesses have more broadly been navigating the effects of naira depreciation following the currency's float in 2023. For Interswitch, which earns transaction fees largely denominated in naira, the revenue uplift reflects both higher volumes of transactions flowing through its network and a broader increase in the nominal value of those transactions in a higher-inflation environment.
The company has not provided specific guidance on revenue targets or earnings projections for the coming financial year. Interswitch remains privately held, though it has explored potential listings on both the Nigerian Exchange Group and the London Stock Exchange in previous years without completing a transaction. No timeline for a prospective initial public offering has been confirmed alongside the current results announcement.
The combination of strong top-line growth, expanding card issuance, and international recognition positions Interswitch as a bellwether for the wider African fintech sector as it approaches 2026, even as competition from mobile money operators, pan-African banks investing in digital channels, and new market entrants continues to intensify across the markets in which it operates.