Nigeria: Verve and Sterling Bank Join Forces to Launch Inaugural Credit Cards

In a concerted effort to enhance payment options with innovation and seamlessness, Verve, a prominent African payment cards and digital tokens brand, has teamed up with Sterling Bank, a leading innovative Nigerian bank, to introduce their first range of credit cards.

These credit cards, denominated in naira, come in two categories: Ultra Bronze and Ultra Ruby, offering flexible access to funds for Nigerians, along with a revolving line of credit.

Key features of these cards encompass user-friendly repayment plans, contactless payment functionality, a 45-day interest-free period, and the versatility to use them across various Nigerian cities at numerous payment terminals and locations. Furthermore, these cards boast a validity period of three years.

This partnership represents a significant milestone in Verve’s ongoing journey as a payment brand dedicated to enhancing the lives of Africans. Their objective is to deepen financial inclusion and facilitate credit access in collaboration with card issuers.

Vincent Ogbunude, Managing Director of Interswitch Paytoken (Verve), emphasized that this partnership epitomizes Verve’s commitment to enhancing cardholders’ quality of life. He stated, “The credit system in Nigeria is intricate, and our aim with this collaboration is to fulfill our promise of delivering Verve’s signature ‘good life’ experience by simplifying credit access for everyday purchases. We are delighted to have partnered with Sterling Bank on this journey, united by our shared vision of establishing strategic alliances to enhance the average Nigerian’s experience in their interactions with the broader financial landscape, thereby bolstering their purchasing power.”

Mustapha Otaru, Chief Product Officer at Sterling, expressed, “The collaboration with Verve perfectly aligns with Sterling’s mission to create solutions that enhance the value delivered to our valued customers. Through the Specta Ultra Card issued on the Verve platform, we have streamlined credit access for customers with diverse income levels and spending requirements. This reaffirms our commitment to providing innovative financial solutions and access for everyone.”

Verve continues to demonstrate its dedication to deepening financial inclusion by partnering with banks, financial institutions, and other payment service providers to offer payment cards to Nigerians and Africans on a broader scale.

With global acceptance in over 185 countries and a user base of more than 50 million tokens, Verve cardholders are guaranteed access to innovative products and solutions that prioritize convenience and security.

As a pan-African payment scheme that prioritizes customer-centricity and delivers payment solutions to individuals, issuers, and organizations, Verve remains steadfast in pushing boundaries, both in terms of customer experience and payment capabilities.