Verve Hits 70m Payment Cards in Nigeria, Consolidates Market Leadership

Emma Okonji

Verve International, Africa’s largest domestic payments scheme, has again attained another remarkable new growth milestone, further consolidating its growing market share in Nigeria, in terms of payment card issuance and transactions.

Verve Payment Cards in Nigeria have now surpassed 70 million issued payment cards to date. This development comes 15 months after the scheme announced it had issued 50 million payment cards in Nigeria in July last year, translating to over 40 per cent growth in issuance volumes YoY.

Speaking on the latest business milestone Chief Executive Officer (CEO) for Verve International, Vincent Ogbunude, asserted that Verve would continue to provide innovative ways to make transactions and payment more secure and convenient for customers, not only in Nigeria 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,” Ogbunude said.