As cross-border trade within Africa accelerates, the real competition is no longer just about issuing cards — it’s about owning the rails that move money across the continent.
With over 100 million cards issued, Verve is now shifting from domestic scale to continental infrastructure. Under its Destination Campaign, the African card scheme is positioning itself as a pan-African payments enabler — starting with a calculated expansion into East Africa.
The move signals something bigger: a push to reduce Africa’s dependence on external settlement systems and strengthen internally built payment networks.
Why East Africa?
Verve’s entry into Kenya and Uganda is not incidental.
East Africa offers:
• Mature digital banking systems
• Strong regulatory oversight
• High mobile and card penetration
• Active regional trade corridors
• Established commercial banking infrastructure
By choosing a region with robust financial systems, Verve is effectively stress-testing cross-border interoperability in one of Africa’s most sophisticated markets.
From Domestic Champion to Continental Infrastructure
Historically dominant in Nigeria, Verve’s next growth phase is focused on interoperability — ensuring cardholders can transact seamlessly beyond home markets.
Vincent Ogbunude, Managing Director of Verve International, framed the expansion as a structural necessity:
“Africa’s economic potential depends on a payments infrastructure that is designed for its unique realities. Verve’s expansion into East Africa goes beyond issuing cards; it is about creating a network of payment infrastructure that is secure, reliable, and purpose-built for the continent. By enabling entrepreneurs, SMEs, corporates, and everyday travellers to transact seamlessly across borders, we are ensuring that value remains within African markets, fostering economic integration, and demonstrating that Africa can build world-class financial systems from within.”
This is not simply a geographic expansion. It is an infrastructure positioning strategy.
Building Acceptance, Not Just Issuance
Card schemes scale only when acceptance matches issuance.
On the issuing side, partners including:
• FCMB
• Union Bank
• Jaiz Bank
• Taj Bank
• Access Bank
have enabled customers to use Verve cards beyond Nigeria.
On the acquiring side, partnerships with:
• Kenya Commercial Bank (KCB)
• Equity Bank
are embedding acceptance within East Africa’s merchant network.
Beyond financial institutions, Verve has also secured acceptance in high-traffic lifestyle and hospitality venues including:
• The Carnivore Restaurant
• Tamarind Hotels
• Tamarind Dhow
• Roast by Carnivore
• Kengeles
• Social House
By focusing on real-world merchant touchpoints, Verve is turning infrastructure into everyday usability.The Bigger Strategic Play: Keeping Value Within Africa
Cross-border payments often rely on global card schemes and foreign settlement systems. This can:
• Increase transaction costs
• Delay settlement
• Route value outside the continent
• Limit regional financial sovereignty
Verve’s hybrid model combines domestic scheme reliability with expanding regional capabilities — aiming to reduce reliance on non-African payment rails.
Cherry Eromosele, Executive Vice President, Group Marketing and Corporate Communications at Interswitch Group, explained:
“Our vision is to contextualise payments for African realities. By extending Verve’s trusted domestic infrastructure into East Africa, we are enabling consumers and businesses to transact across borders with the same convenience and security they enjoy at home. This expansion is not simply about issuing cards; it is about facilitating transactions and exchange of value, supporting regional commerce, and strengthening financial connectivity across the continent.”
Why This Matters Now
Intra-African trade is expected to rise significantly under AfCFTA frameworks.
As mobility increases across:
• Tourism
• SME trade
• Corporate expansion
• Regional supply chains
interoperable payments become foundational infrastructure — not optional convenience.
If African-owned schemes can deepen acceptance across regions, they could:
• Strengthen continental payment sovereignty
• Improve cross-border liquidity flows
• Reduce FX friction
• Build regional economic resilience
The Infrastructure Phase of African Fintech
African fintech’s first wave focused on inclusion.
The next wave is about integration.
Verve’s East Africa rollout represents a shift toward building continent-level payment rails capable of supporting deeper economic connectivity.
The question now is whether African-built schemes can achieve the scale and interoperability required to compete in a rapidly evolving global payments ecosystem.
For Verve, East Africa is the proving ground.
