Verve International has said it issued 15 million payment cards in a year, increasing the total number of issued cards to 50 million.
The firm said in a release that it issued 35 million cards in Nigeria in March 2022 and had grown the figure by about 42 per cent this year.
Commenting on the growth, the Chief Executive Officer for Verve International, Vincent Ogbunude, said, “As the progressive shift towards cashless payments accelerates, and in view of the peculiarities of the markets in which we do business, it has become important that we continue to consolidate in delivering global-standard payment solutions tailored to economic and operational realities of the environment, whilst doubling-down on value-adding partnerships that ensure we scale our impact and turbocharge financial inclusion on the African continent.
“13 years ago, we defied daunting odds and set out to chart a course for a brave new world of payments in Africa. Today we are thoroughly delighted and proud to celebrate this phenomenal milestone of 50 million cards and counting, which effectively positions Verve as the leading payment card scheme in Africa’s most significant consumer market.”
The firm also announced its partnership with OPay for OPay Verve Instant Debit Card in October 2022.
It added, “Verve offers both virtual and physical cards that facilitate payment for an increasing number of international services in local currency and has made significant progress in this regard, having achieved merchant acceptance with platforms such as Netflix, Showmax, Amazon Prime, Facebook, Microsoft, Uber, and Flywire, to mention a few.
“Verve also has a number of major partnerships in the works, underscoring its strong resolve to continue to drive such partnerships that provide users in Africa convenient opportunities to access global services in local denominations.”