By Babajide Komolafe  

Austriacard Holdings, an international card and secure chip solution provider, has   said it will partner with banks, fintechs and other stakeholders   to enhance development of the Nigerian payment system.

Burak Bilge, Executive Vice President, Turkiye, Middle East and Africa, MEA, Austria Card disclosed this while speaking to journalists at the sidelines of a breakfast event organized by the company to interact    with senior management officials in the payment industry including banks and fintechs companies.

Stressing that the vision of Austria Card is to be an important partner in the Nigerian payment ecosystem, Bilge   explained that the purpose of the meeting is to   introduce the company’s latest product and service offerings to the stakeholders in the Nigerian payment industry.

Speaking on the value of partnership   for the Nigerian payment industry, Bilge said, Austriacards offers B2B clients solutions ranging from bank payment cards, technologies and chip operating systems.  

The company, he said,”is a leader in fast growing segments such as Challenger banks, with dominant positions in Central and South Eastern Europe, expanding in MEA, UK and the US.  

  “Austriacards has an   industrial presence in nine countries, and sales operations across the world, having Visa, MasterCard, HSA, CC EALS certifications, and strong research and development capabilities.”

In addition to this, Bilge said Autriacard has strong financials, with the company achieving over €300 million in revenue, 43.1 million Earnings Before Interest, Taxes, Depreciation, and Amortization, EBITDA and Net Income of   €16.8 million in the first three quarters of 2024.

He said: “We are bringing in, first, a lot of domestic experience from other countries. There are a lot of local brands across the world which we know, which we have developed so far.

“We don’t want to sell a chip or card. We want to become a stakeholder in the Nigerian ecosystem so we can support and we can also learn from Nigeria.”

Stressing the benefits of partnership with Austria Cards to   Nigerian payment firms,   Bilge said,   “In   order for a local brand to become successful, it also need international experience, because this has been done in other markets, so you need that experience to come into the market also, and this is what Austriacard   will do.

“I believe it’s the right moment for Austriacard    to step in, because especially with the trade tariffs, and especially with states being more active against China,   Taiwan, there will be gaps, and there will be potentials in Nigeria, which they (local brands) will not be able to fulfill.  

“So I believe, if we don’t act as Austriacards and as a company that wants to help the industry here, there might be some interruptions also with the service levels and with the kind of products that is coming into the market.”