There is a strong indication that fintech powerhouses PalmPay and Carbon have begun issuing Verve cards to their customers in a significant move aimed at expanding financial inclusion.
This development, according to ITPulse’s findings follows a Central Bank of Nigeria’s (CBN) authorization, signaling the apex bank’s continued support for fintech innovation and its commitment to bringing digital financial services to more Nigerians.
ITPulse can confirm that this strategic partnership will leverage Verve’s extensive payment network, providing millions of PalmPay and Carbon users with access to a wider range of digital payment solutions. The choice of Verve is attributed to its robust infrastructure and widespread acceptance across Nigeria and beyond.
Also, the decision by PalmPay and Carbon to align with Verve underscores the domestic card scheme’s strong market presence. With over 70 million cards issued, as celebrated during its 15th anniversary last year, Verve has established itself as a dominant player in Nigeria’s payment ecosystem. Its impressive reach makes it an ideal partner for fintech companies seeking to rapidly expand their payment offerings while supporting the CBN’s financial inclusion objectives.
PalmPay and Carbon join other fintech leaders like Opay and Moniepoint in issuing Verve cards. As a homegrown card scheme, Verve has consistently innovated, integrating advanced features such as contactless payment technology and enhanced security measures, including biometric authentication. This dedication to innovation allows Verve to compete effectively with international payment networks.
This collaboration is expected to accelerate Nigeria’s progress towards a more inclusive financial landscape, providing more Nigerians with access to modern banking and payment services through the combined technological capabilities of these leading financial service providers.