Nigerian digital payment provider Interswitch is to launch its Verve payment cards in Kenya in 2016 to compete head-on with international card brands and Safricom’s M-Pesa mobile money platform.
A strategic partnership with Kenya Commercial Bank (KCB) will expand card acceptance and payment
services in 6 key East African markets.
“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,” said Charles Ifedi, CEO, Verve International. “Expansion of Verve acceptance across Africa and around the world is part of the long-term strategic vision for our business.”
Verve cards are already issued by more than 40 banks in Africa. The launch of the Kenyan operation will extend the Verve network into Kenya, Burundi, Rwanda, South Sudan and Tanzania, and integrate with existing operations in Uganda.