Verve Sustains Market Leadership With 70 million Payment Cards in Nigeria

By Modupe Gbadeyanka

About 70 million payment cards have been issued in Nigeria by Verve, consolidating its market leadership in the space.

This development comes 15 months after the firm said it had issued 50 million payment cards in Nigeria in July last year, translating to 40 per cent growth in issuance volumes year-to-year.

In the last three years, Verve has made significant progress, having achieved merchant acceptance with platforms such as Google, Spotify, Netflix, Showmax, Amazon Prime, Facebook, Microsoft, Uber, and Flywire, to mention a few, underscoring a strong resolve to continue to drive relevant partnerships that provide its users in Africa convenient opportunities to access global services in local denominations.

Cardholders have come to regard Verve as a safe, convenient, and reliable payment solution for everything.

Verve cards can be used across a wide range of payment channels like Point of Sale (POS) terminals, Automated Teller Machines (ATMs), agency banking channels, Web/e-commerce, and Mobile Apps.

The chief executive of Verve International, Mr Vincent Ogbunude, asserted that Verve continues to provide innovative ways to make transactions and payment more secure and convenient for customers, not only in Nigeria but across Africa and beyond, whilst providing unparalleled business value for business partners from both issuing and acquiring perspectives.

“At Verve International, we continue to consolidate our delivery of global-standard payment solutions howbeit essentially tailored to economic and operational realities of the markets where we play across Africa, whilst leveraging value-adding partnerships that ensure we scale our impact and turbo-charge financial inclusion on the African continent.

“We are greatly delighted again at this point to celebrate another phenomenal milestone, having added 20 million new payment cards to our base in Nigeria, for which we are extremely appreciative of our issuing partners as well as our loyal cardholders,” he stated.

Verve has assured its customers to remain focused on addressing peculiar market challenges in Africa by providing secure and cost-effective payment options for individuals and businesses to exchange value, offering both virtual and physical cards that facilitate payment for an increasing number of international services in local currency.

Recall that recently, Verve launched the fifth edition of its Goodlife National Consumer Promo, a reward program designed to engage and reward its millions of cardholders.

The promo, which runs from August 15 to December 31, 2024, offers instant discounts and rewards for Verve cardholders at selected merchants and retail outlets across Nigeria, including NNPC Retail Limited, Addide, The Place, Sweet Sensation and Chowdeck, among others.