L-R: Executive Director, Operations and Information, Fidelity Bank Plc, Gbolahan Joshua; Chief Executive Officer, Verve International, Mike Ogbalu III; Chief Operations Officer, Interswitch, Oremeyi Akah; Group Managing Director/ Chief Executive Officer, Interswitch, Mitchell Elegbe; Deputy Chief Executive Officer, Sales Network, Interswitch, Chinyere Don-Okhuofu at the 10th anniversary celebration of Verve in Lagos recently.
L-R: Executive Director, Operations and Information, Fidelity Bank Plc, Gbolahan Joshua; Chief Executive Officer, Verve International, Mike Ogbalu III; Chief Operations Officer, Interswitch, Oremeyi Akah; Group Managing Director/ Chief Executive Officer, Interswitch, Mitchell Elegbe; Deputy Chief Executive Officer, Sales Network, Interswitch, Chinyere Don-Okhuofu at the 10th anniversary celebration of Verve in Lagos recently.Verve Card has restated its commitment to improving financial inclusion across borders in a bid to make payments much more seamless and efficient for its teeming customers.
This was made known in Lagos by Mitchell Elegbe, Founder/GMD, Interswitch Group while delivering his address during a media parley held recently to mark Verve’s 10th year anniversary.
Elegbe noted that the card scheme has experienced steady and explosive growth in the payment segment. “Our card scheme has grown from just an idea to solve the payment inefficiencies in Nigeria, into a bouquet of innovative payment solutions for Nigerians, Africans, and the rest of the world. I consider these first 10 years as years of consolidation and growth. We anticipate the next 10 years to be years of massive investment in unprecedented payment service delivery”, he said.
The GMD further noted that the company has succeeded because of its people even though it has had its fair share of turbulent times. “Our people have trudged on, ensuring that objectives set are met, projects are delivered, relationships with partners are well nurtured and ultimately, customers are satisfied. All these have helped the brand to earn its stripes and come this far. Today, the solutions and products Verve has brought to the marketplace demonstrate what can happen to any endeavor when met with the right people, opportunities and environment”, He said.
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Findings show that at present the Verve Classic card is issued in Nigeria and eight other African countries and accepted in 21 African countries; while the Verve Global Card is accepted in 185 countries including the U.S, U.K and Dubai.
In his own submission, CEO of Verve International, Mike Ogbalu III described the story of Verve as that of resilience, innovation, determination and most importantly, a business proposition that has turned out to be successful.
He said: “At the time Verve was introduced, Nigeria was dominated by international card schemes. There was the need to have a domestic card scheme with better understanding of the needs of the Nigerian populace and Africans at large. Today, we have built a payment solution that does not only allow ease of payment across Africa, but has a superstructure that the rest of the world is willing to embrace”
He added: “Verve is not only a payment card; Verve has become a lifestyle for its users. It is the way we pay, play and interact. Verve is both a contact and contactless payment solution, a physical and virtual store of value. It is African’s key to exchange”.
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The event kicked off with a rendition in spoken words by Wana Wana titled ‘Vervolution’, followed by a 10-minute documentary on ‘The Verve journey, story & Future’.
There was also a panel session moderated by Mike Ogbalu III which featured discussions about the e-payment sector in Nigeria, its attendant challenges and solutions. The panelists were Gbolahan Joshua, Executive Director, Operations and Information, Fidelity Bank Plc; Olu Akanmu, Executive Director, Retail Banking, FCMB; Akeem Lawal, Divisional CEO, Payment Processing, Interswitch and Stanley Jacobs, Chairman, Committee of e-Business Industry Heads, (CeBIH).
It is on record that Verve was launched in 2009 and is currently the only African card scheme that is a member of EMVCo, the global body responsible for setting and regulating payment card standards.
Samson Oyedeyi
