Leading African payments technology and card business, Verve has reiterated its stance in improving financial inclusion and making payments much more seamless and efficient for its customers across borders.
Speaking at the 10th year anniversary of Verve which was covered by Nairametrics, the Founder/GMD of Interswitch Group (Verve’s parent company), Mitchell Elegbe was quoted to have said, “Our card scheme has grown from just an idea to solve the payment inefficiencies in Nigeria, into a bouquet of innovative payment solutions for Nigerians, Africans, and the rest of the world.”
Elegbe, however, promised that while the first decade marks the company’s years of consolidation and growth, the next 10 years will be “years of massive investment in unprecedented payment service delivery.”
Mike Ogbalu, the CEO of Verve International, who was in attendance at the event, reminisced the company’s growth in the past years. During his speech, Ogbalu revealed how Verve shot into the limelight in Nigeria at a time Nigerians needed an easy payment solution.
Ogbalu’s words: “At the time Verve was introduced, Nigeria was dominated by international card schemes. There was the need to have a domestic card scheme with better understanding of the needs of the Nigerian populace and Africans at large. Today, we have built a payment solution that does not only allow ease of payment across Africa but has a superstructure that the rest of the world is willing to embrace.”
What you should know: Verve which was established in 2009 has its products, the Verve Classic card currently being issued in Nigeria and eight other African countries and accepted in 21 African countries; while the Verve Global card is accepted in 185 countries including the U.S, U.K and Dubai.
Verve is currently the only African card scheme that is a member of EMVCo, the global body responsible for setting and regulating payment card standards.
The event, had in attendance members of the media, partner banks, other trade partners, a representative of the payment industry regulator; Samuel Okojere, Director of Payments Systems Management, and Central Bank of Nigeria (CBN) amongst others.
About the company: Verve is Interswitch Group’s innovative card scheme, offering products and solutions that enable consumers to transact all over Nigeria and across international markets. As the first African card scheme to be recognized as a valid, globally accepted e-payment gateway, we have built a world-class value chain ecosystem that benefit from the services we provide.