Payment Processor EMP Expands in West Africa
Mediterranean Smart Cards Company (MSCC), a subsidiary of the Emerging Markets Payments Holdings (EMPH), has upgraded its West African regional office and processing facility in Lagos, Nigeria. The facility now serves as a hub and a processing centre for the West African region.
MSCC’s office in Lagos is a fully-fledged regional office to better serve its 50 client banks across West Africa. MSCC has also invested in a local processing centre and payments hub in Lagos in order to better handle the fast growth in electronic payments traffic in the region. The office will be headed by Nasser Azab, a senior executive from MSCC’s Cairo office.
“MSCC has seen significant growth in the African market over the past few years,” said Hoda Shoukry, MSCC chief executive officer (CEO). “The governments of African nations, particularly Nigeria and Ghana, are focused on transitioning from cash-oriented to cashless economies. In Nigeria, for instance, the government and central bank have established a national switch and are discouraging large cash deposits and withdrawals. The Ghanaian government has also been pro-active in promoting the benefits of a cashless economy.”