Verve International (‘Verve’), an African payment card brand, has announced its official entry into the Kenyan market.
The launch in Nairobi included the announcement of a strategic partnership with Kenya Commercial Bank (KCB) to expand card acceptance and payment services in six key East African markets.
Verve, which is also the biggest payment card brand in Nigeria with more than 30 million payment tokens, is rapidly expanding issuance and acceptance across the African continent. It is now issued by over 40 banks in Africa.
The launch of the Kenya operation will extend the Verve network into Kenya, Tanzania, Burundi, South Sudan and Rwanda and integration into existing operations in Uganda.
It also opens the way for Verve card users to enjoy services in Kenya and key East African markets. Verve also intends to begin issuing branded cards to Kenyan and East African customers in the near term.
Verve International is pursuing acceptance of the Verve card around the world. In 2013, the company signed a partnership agreement with Discover Financial Services (DFS), the owners of Diner’s Club, which will give Verve cardholders access to the Discover global network of over 185 countries and territories across the world.
Verve International Chief Executive Officer Charles Ifedi said,
“East and West Africa are host to some of the fastest-growing economies on the continent. We are also seeing rapidly expanding trade flows between the two regions, and with that increased travel. Expansion of Verve acceptance across Africa and around the world is part of the long-term strategic vision for our business. It will also foster closer business partnerships between East and West Africa and improve the ease of doing business on the continent, thereby encouraging even stronger growth. We have created Africa’s first truly global payment card brand and an important symbol of Africa’s economic power.”
“Verve’s commitment and drive is to always go the extra mile to satisfy its customers everywhere in Africa with a convenient, safe and secure payment platform.”
Verve has been used in Africa for six years helping customers conduct millions of transactions safely, securely and hassle-free. The brand boasts of a system which is built and maintained by Africans to serve the African market and to connect it to retailers across the world.
Its expansion is enhancing intra-African trade and promoting strong and sustainable economic growth on the African continent.