Kenyans now have even more options when it comes to cashless payments as Verve makes its official entry into the Kenyan market. The leading African payment card brand launched yesterday, 29 October, in Nairobi.
The launch also brought to the fore, a strategic partnership with Kenya Commercial Bank (KCB) to expand the card’s acceptance and payment services in six key East African markets – Kenya, Tanzania, Burundi, South Sudan, Rwanda and Uganda, where it already has a footprint.
This is a strategic effort by the Verve brand, which is the biggest payment card brand in Nigeria with more than 30 million payment tokens, to increase its acceptance across the African continent (Verve is currently issued by over 40 banks in Africa).
With this launch, Verve card users can now 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.
Seeing as Kenya in particular has shifted towards a cashless public transport system, having more options when it comes to making payments is a good thing.
Charles Ifedi, Chief Executive Officer, Verve International, 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 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.