Verve International, recognized as Africa’s largest domestic payments scheme, has reached another impressive growth milestone, solidifying its expanding market share in Nigeria regarding payment card issuance and transactions.

With the Nigerian market being Africa’s largest consumer base and the first country to issue Verve Payment Cards, the total number of issued cards has now surpassed 70 million. This significant achievement comes just 15 months after the company announced that it had issued 50 million cards in July of the previous year, representing over 40 percent growth in year-over-year issuance volumes.

In a statement regarding this latest milestone, Verve International’s Chief Executive Officer, Vincent Ogbunude, emphasized the company’s commitment to providing innovative solutions that enhance transaction security and convenience for customers. He reiterated Verve’s dedication to not only meeting the needs of customers in Nigeria but also across Africa and beyond, while delivering exceptional value to business partners from both issuing and acquiring perspectives.

“At Verve International, we continue to enhance our global-standard payment solutions, adapting them to the unique economic and operational realities of the markets we serve throughout Africa. Our focus on valuable partnerships allows us to increase our impact and drive financial inclusion across the continent. We are thrilled to celebrate this remarkable achievement of adding 20 million new payment cards in Nigeria, and we extend our deepest gratitude to our issuing partners and loyal cardholders,” Ogbunude stated.