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Interswitch Goes Ticketing with £56 million Bekoz Deal

Interswitch Group is going all the way to win the ticketing business in Nigeria with £56 million deal with Bekoz UK Ltd. This is going to be a tough challenge due to the massive fragmentation in the sector. But if they thrive, they will become the operating system of bus ticketing in Nigeria. It is a very huge opportunity.

Interswitch Group, has signed a multi-billion Naira deal with Bekoz UK Ltd, a British transport ticketing company, to enhance transportation ticketing in Nigeria.

The deal, which is worth £56 million, (N26 billion), will leverage British technology to keep Nigeria’s commuters on the move through the launch of three products developed exclusively for the Nigerian market – the BeCard, the BeVal and the BeReader, with scope to expand this offer throughout Africa.

The BeCard is a regular shaped card – like any bank card or the Oyster card in London. The BeVal is the device that is installed on the buses where the passenger taps on – just like on the London buses, while BeReader is the mechanism that makes all these work.