Verve promises massive investment in payment service delivery

Leading African payments technology and card business, Verve has 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

Speaking at the 10th year anniversary of Verve, the Founder/GMD of Interswitch Group (Verve’s parent company), Mitchell Elegbe, reiterated the company’s stance in improving financial inclusion and making payments much more seamless and efficient for its customers across borders

“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.”

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.”

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.