African payment card brand Verve International has officially entered the East African market with its launch in Kenya. The launch 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 has more than 30 million payment tokens in Nigeria said it is rapidly expanding issuance and acceptance across the African continent and 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 an integration into existing operations in Uganda.
“The launch 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,” the company in a statement made available to Innovation Village.
“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.”
Speaking on the Nairobi launch, Charles Ifedi, Chief Executive Officer, Verve International, said East and West Africa are host to some of the fastest growing economies on the continent. According to him, Verve is 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,” he said.
“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,” he concluded
