Verve, a leading payments technology company and card scheme in Africa, has announced a partnership with dLocal, a cross-border payment platform connecting global merchants to emerging markets, enabling the company add Verve’s 47 million cards and tokens on its payment platform.
Mike Ogbalu III, Chief Executive Officer, Verve International, commenting on the announcement said: “The acceptance of Verve cards and tokens through dLocal is another remarkable achievement for our card scheme on the heels of our partnership with Discover Financial Services (NYSE: DFS).
“Verve provides more convenience for our cardholders in Nigeria and across 12 other African markets. Our growing acceptance by global online merchants, such as Netflix and Microsoft through dLocal reinforces the reality that Africa, more than ever before, is fully open and ready for global payments.
“We assure our customers, partners and merchants that we will continue to be at the forefront of providing convenient payment options for Africans in Africa and globally.”
With the partnership in place, dLocal’s 450+ global online merchants will now be able to accept one of the most popular payment methods in Africa’s largest market, Nigeria.
Verve cards and tokens predominantly issued and accepted by commercial banks and other financial institutions in Nigeria are the most recognised gateway to payments for 180 million-plus Nigerians. In addition to the Verve cards issued by financial institutions in Nigeria, Verve cards are issued in 12 other African markets and accepted in 21 African countries.
Adebiyi Aromolaran, Head of Expansion Africa for dLocal, said: “Through our research and many discussions with clients, it became abundantly clear that many African countries are brimming with potential, with Nigeria at the top of the list for many of our clients’ expansion aspirations. Being able to offer local Verve card and token payments is going to be a huge benefit for our clients looking to access this market.”