Verve has expanded its footprint in Nigeria’s payment ecosystem through new partnerships with leading financial technology firms, Carbon and PalmPay, it announced in a statement on Monday.
The collaboration will see both fintech companies begin issuing Verve cards to their customers, giving more than 30 million users access to Verve’s extensive payment network.
According to the firm, the partnership is expected to expand digital transaction options and drive financial inclusion across the country.
The partnership allows millions of Carbon and PalmPay customers access to Verve’s extensive payment network, bringing digital payment solutions to previously underserved populations.
“Industry observers note that the decision by both fintech companies to align with Verve stems from the payment card’s network-wide reach and robust infrastructure across Nigeria and beyond,” the company stated.
Last year, Verve marked its 15th anniversary, characterized by its outstanding quality, innovativeness, and vast array of options.
It also announced that it had issued over 70 million cards, establishing itself as a dominant player in Nigeria’s payment ecosystem.
The company noted that the domestic card scheme’s impressive penetration makes it a natural choice for fintech platforms seeking to rapidly expand their payment offerings while supporting the CBN’s financial inclusion goals.
Other fintech companies that have previously followed this line in issuing Verve cards include Opay and Moniepoint.
As a homegrown card scheme, Verve said it has continued to innovate its service offerings to compete effectively with international payment networks.
The company revealed it has integrated advanced features, including contactless payment technology and enhanced security measures, such as biometric authentication through other sophisticated recognition systems such as fingerprints.
