Verve Spotlights Emerging Trends at Zenith Bank Tech Fair

Emma Okonji

Africa’s leading payment cards and digital tokens brand, Verve, has underscored the transformative impact of emerging trends in the digital payments ecosystem including digital wallets, tokenization, and Buy Now, Pay Later (BNPL) solutions at the third edition of the Zenith Bank Tech Fair, which held recently 

Managing Director of Verve International, Vincent Ogbunude,  shed light on these key trends during a

panel session with other industry leaders, where he emphasized the company’s commitment to driveinnovation and shape the future of payments in Africa. 

Ogbunude underscored the pivotal role of tokenization in revolutionizing the approach to security and convenience 

in the contemporary payments landscape. He emphasised the growing demand for tokenization, driven by the increasing need for secure eCommerce payment solutions, the widespread

adoption of payment applications, and heightened security concerns associated with digitizing sensitive data. However, he added that despite the growth of tokenization, payment cards continue to be a dominant force today and into the future. He stated that payment cards remain a universal tool for financial transactions, especially in markets like Nigeria where digital infrastructure is still evolving.

According to him, the diversity of payment preferences demands a hybrid approach that accommodates both traditional and emerging methods. To emphasize his point further, Ogbunude highlighted Verve’s continued market growth as an example, stating that Verve recently crossed the 50 million card issuance mark in the Nigerian market.

Recognizing the growing importance of the BNPL model, Ogbunude emphasised its significant contribution to boosting lending to Nigeria. He said that fostering growth in this model would require astrategic blend of technological innovation and financial acumen.