Verve International has announced a new growth milestone, recording over 70 million issued payment cards to date.
In a statement, the company highlighted that Verve Payment Cards have become a leading choice in Nigeria, Africa’s largest consumer market. This achievement comes just 15 months after it issued 50 million payment cards in July last year, translating to a remarkable 40% growth in issuance volumes year-on-year (YoY).
The company stated, “Over the last few years, Verve has grown to become the payment card of choice across various tiers of banking services, particularly within the burgeoning fintech and neobank space in Nigeria. This success is attributed to significant strategic partnerships across commercial and microfinance banking sectors, fintechs, other financial institutions (OFIs), and the public sector, driven by sustained innovation and a deep understanding of local market requirements.”
Verve has made significant strides in merchant acceptance, partnering with global platforms such as Google, Spotify, Netflix, Showmax, Amazon Prime, Facebook, Microsoft, Uber, and Flywire, among others. These partnerships underscore Verve’s commitment to providing users in Africa with convenient access to global services in local currencies.
Speaking on this latest business milestone, Vincent Ogbunude, Chief Executive Officer (CEO) of Verve International, asserted that Verve continues to offer innovative solutions to enhance the security and convenience of transactions and payments, not only in Nigeria but across Africa and beyond. He emphasized the company’s dedication to delivering unparalleled business value for its partners, both in issuing and acquiring capacities.