Verve…Here for Naija, Here for Life

There’s always a first at something and this is the case of Nigeria's and Africa's first domestic card
scheme – Verve Card. Verve card was launched in 2009 by the leading pan-African integrated digital
payments and technology company, Interswitch.
Prior to its launch, cash was the order of the day in Nigeria. Businesses and individuals carried and
exchanged cash to make purchases and settle transactional dealings and that proved to be inconvenient
and somewhat burdensome. Of course, this it also came with its resultant downsides such as an increase
in robbery incidents, lost transactions due to security concerns, among other issues. Today, Nigeria's
payment landscape has evolved to a more convenient, safer, and faster processes.
These processes were made seamless by the innovation and introduction of card payment solutions,
bringing about phenomenal growth and acceptance in the adoption of electronic payment, thereby
reducing reliance on cash. Despite the presence of international cards such as Master Card and Visa,
Verve, made impressive in-roads into the Nigeria market as the first indigenous card that relied on the
use of chips and PINs, until it switched to a more sophisticated technology – the EMV technology.
The switch to an EMV technology, as directed by the Central Bank of Nigeria (CBN), came from the
acceptance of the EMV technology as a global standard of card technology for credit, debit, and prepaid
smart cards. This way, businessowners and individuals not only conduct transactions conveniently, but
also with the assurance that their funds and data are safe.
In addition to the safety measures highlighted above, the card also has a magnetic strip, which can be
used as a backup in case the chip and pin technology is not available, mitigating against fraud and
improving security.
The Verve card is accepted at 1 million merchants’ stores and ATMs across Nigeria and Africa, making it
easy for consumers to make purchases and access their funds no matter where they are in the country.
This is particularly beneficial for businesses that operate in multiple locations, as they can easily accept
payments from customers using the Verve card.
The Verve card also provides consumers with a range of financial management tools. For example, the
card can be used to check account balances, view transaction history, and set up text and email alerts to
keep track of account activity. This makes it easy for consumers to keep track of their finances and
ensure that they have enough funds available to make purchases.
Verve card has further extended its frontiers to online supporting consumers increased yearning for
convenient and seamless transactions. It can be used to make online payments, and merchants can also
use the Verve Payment Terminal (VPT) for card-present transactions, allowing merchants to accept card
payments at their physical locations and making it easy for consumers to make purchases.
Beyond the foregoing points, the Verve card also supports the Nigerian government's efforts to promote
financial inclusion. The card is widely available to individuals and small businesses, many of whom may
not have access to traditional banking services. This has helped to empower more people to participate
in the economy, and this has further fueled trade growth.

As more businesses and individuals join the digital economy, there is a growing need for more
convenient and accessible payment options for Nigerians, and the Verve card rides high on this tide,
making it easy for Nigerians to make payments across channels including Automated Teller Machines
(ATMs), Point of Sale (PoS) terminals, web, among other payment platforms.
In addition to providing solutions to payment issues, The Verve card also ensures that its cardholders are
rewarded through various consumer-facing initiatives such as the Verve Goodlife Promo. The card
scheme also partners with banks and other financial institutions to reward and delight its esteemed
consumers, both existing and new.
Verve has continued to make giant strides with its strategic partnerships extending to sectors such as
transport, health among others; as evidenced by its partnership with the Lagos State Government in its
launch of the LAG ID, and its collaboration with the Central Bank of Nigeria on eNaira.
Understanding the African payment landscape, Verve continues to push the boundaries of payment,
using local and international talents to provide innovative payment solutions that address the payment
needs and aspirations of Nigerians and Africans at large.