Interswitch’s Verve has officially crossed the 100 million card issuance mark, cementing its position as Africa’s largest homegrown payment card brand and marking a significant milestone in the continent’s journey toward a cashless economy.

The achievement, announced by Vincent Ogbunude, Managing Director of Verve International, at a media event in Lagos, comes 16 years after the company launched as Africa’s first domestic card scheme in 2009.

From 20 Million to 100 Million: A Growth Story

Verve’s trajectory shows remarkable acceleration in recent years. The company took four years to reach 20 million cards by 2013, then a decade to hit 50 million in July 2023. But the pace quickened dramatically—jumping from 50 million to 70 million by October 2024, then to 85 million shortly after, before crossing 100 million in early December 2025.

This rapid growth reflects not just Verve’s expansion but the broader digital payment adoption sweeping across Nigeria and other African markets.

Pan-African Footprint

While Nigeria remains Verve’s strongest market—commanding approximately 75% market share in the country’s card transaction space—the brand has successfully expanded across the continent. Verve cards are now accepted in Kenya, Uganda, Côte d’Ivoire, Benin Republic, The Gambia, and Senegal, among others.

The cards are widely issued by commercial banks and increasingly by fintech platforms like OPay and PalmPay, which have been instrumental in driving financial inclusion among previously underbanked communities.

What’s Next: Contactless and Tokenization

Verve isn’t resting on its laurels. The company announced it’s doubling down on next-generation payment technologies, with two major initiatives:

Contactless Payments: Expanding tap-and-go functionality across terminals to enable faster transactions—a move that aligns with similar efforts by Nigerian fintechs like PalmPay and Moniepoint, who recently partnered with AfriGO for contactless rollouts.

Tokenization: Implementing advanced security measures for online and digital payments to reduce fraud risk and data compromise, addressing one of the biggest concerns in Africa’s growing e-commerce space.

Strategic Partnerships Unlock Global Services

In conjunction with the milestone announcement, Verve revealed two significant partnerships:

Adobe: Cardholders will gain access to Adobe’s creative suite—including Photoshop, Illustrator, and Premiere Pro—at competitive rates, supporting Africa’s burgeoning creator economy.

Glovo: The collaboration with the on-demand delivery platform will offer users discounts, rewards, and streamlined checkout experiences.

These partnerships complement Verve’s existing global integrations with Google, Netflix, Spotify, AliExpress, Temu, Flywire, and YouTube Premium—enabling African consumers to access international digital services without relying on foreign-currency cards.

The Bigger Picture

“This milestone is more than a number; it represents millions of people across the African continent who have become empowered to participate in the digital economy,” Ogbunude stated. “It belongs to every customer who believed in an African home-grown card scheme and every institution that partnered with us to make it scalable.”

Cherry Eromosele, Executive Vice President for Group Marketing and Corporate Communications at Interswitch Group, emphasized the human impact: “What began as a simple idea—one card designed to empower everyday life—has grown into 100 million stories, 100 million touchpoints, and 100 million reasons to deepen our commitment to delivering secure, seamless, and meaningful payment experiences across Africa.”

Market Context

The 100 million milestone arrives as Nigeria continues its aggressive push toward a cashless society. The Central Bank of Nigeria’s policies have accelerated digital payment adoption, with card transactions, POS payments, and mobile money transfers increasingly becoming the norm rather than the exception.

Verve’s growth also highlights the viability of homegrown African fintech solutions competing effectively against international card schemes like Visa and Mastercard, particularly in serving the unique needs of African consumers and businesses.

Looking Ahead

With the 100 million mark now crossed, Verve has signaled plans to accelerate expansion efforts, elevate customer experiences, and strengthen its global acceptance network. The company views this not as a finish line but as validation of its strategy and a launchpad for deeper market penetration across Africa.

As the continent’s digital economy continues to mature, Verve’s trajectory offers a compelling case study in how African-built solutions can scale to serve millions while maintaining relevance in an increasingly globalized digital payments landscape.

What are your thoughts on Verve’s milestone? Does this signal a maturing fintech ecosystem in Africa, or are we still in early innings? Share your perspective in the comments below.