Summit Explores Payment Innovation, Future of Retail in Nigeria

Interswitch, one of Africa’s leading integrated payments and digital commerce companies, 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.

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.

Vice President, Sales and Account Management, Interswitch, Osasere Atohenghe, 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,” Atohenghe said.

Delivering the keynote address, Faculty Member, Lagos Business School and Founder/Executive Business Consultant, Chidi Okoro, 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.