The 11-years-old Verve is a Pan-African payment card brand owned by Interswitch, and while it has been useful only within Africa, it plans to extend it tentacle to other continents of the World
Known as a card brand, the payment company is a subsidiary of Interswitch, and for more than a decade now, it has helped its various customers to carry out transactions within the wall of Africa with several countries including Nigeria being a beneficiary. Apart from being a card brand, Verve is also known to be a checkout option for Interswitch’s payment platform, and at that, has always aimed to compete with the likes of VISA, and Master Card in the Global ranking, until now that it is seemingly achieving its aim.
As part of its goals, the payment card brand has reportedly announced through its partnership with Discover Global Network (a leading US card platform), its expansion plans. According to the announcement, Verve will now be used for International, as well as a cross-border transaction; this means that, other than African countries, customers will now be able to make transactions with countries from other continents.
At that, Verve will be adding not less than 185 countries of the World to its existing reach as part of its expansion plan. However, transactions with other countries beyond Africa requires the use of a dedicated card which is different from the on that Africans currently use. That been noted, Verve will be issuing a dedicated card called ‘Verve Global Card’ which will offer access for transaction beyond Africa.
While speaking about the new partnership with Verse, Executive Vice President, Payment Services at Discover Financial Services, Diane Offereins, said the partnership is mutually beneficial, as it would help both companies expand their customer base, and increase acceptance of their products and services.
To commence the new operation, the first International transaction using the new Verve Global Card was made on the 12th of August 2019, by a jewelry shop, Swarovski located in New York, USA.
In addition, while the Verve Global Card is entirely different from any that has been initially issued, customers may have to head to their respective banks to acquire the new card before they can enjoy the benefits stated earlier. At that, some Nigerian banks seem to have the card available, for instance, Fidelity bank, among others reported recently that interested customers can come around to get theirs.
Above all, this is by far a piece of good news not only for Nigerians, but for Africans at large, and as a matter of fact, it will be of most use online traders among others.