Verve International, Africa’s first and largest domestic payments scheme and a subsidiary of the Interswitch Group, has been named in the first-ever Global Payments Power 50 list by The Power 50, recognising the most innovative companies driving innovation and transformation in the global payments industry.
Founded in 2018, The Power 50 shines a spotlight on those who are transforming financial services for the better and delivers ongoing support and development for participants. Bringing together a diverse yet interconnected community, the Payments Power 50 will serve as a reminder of the significant strides being made in the payments space. From established financial giants to rising fintech stars, the list will also include well-known influencers whose insights and contributions continue to inspire and challenge the industry.
Since its launch in 2009, Verve has had a spectacular trajectory against daunting odds, carving an impressive niche for itself as Africa’s first world-standard EMV chip and PIN payments card, starting from Nigeria and expanding its issuance and acceptance across over 25 African Countries. Verve Payment Cards in Nigeria, Africa’s largest consumer market and its pioneer country of issuance have, to date, surpassed 70 million issued payment cards. Over the last few years, Verve has grown to become the payment card of choice across various tiers of banking service and particularly within the burgeoning fintech/neobank space in Nigeria. This growth has been driven by significant strategic partnerships across commercial and microfinance banking spheres, as well as fintechs, OFIs, and the public sector supported by sustained innovation and demonstrated understanding of the requirements of its local markets.
As Africa’s premier and leading domestic payment cards scheme, Verve remains focused on addressing peculiar market challenges in Africa by providing secure and cost-effective payment options for individuals and businesses to exchange value, offering both virtual and physical cards that facilitate payment for an increasing number of international services in local currency. In the last three years, Verve has made significant progress in this regard, having achieved merchant acceptance with platforms such as Google, Spotify, Netflix, Showmax, Amazon Prime, Facebook, Microsoft, Uber, and Flywire, to mention a few, underscoring a strong resolve to continue to drive relevant partnerships that provide its users in Africa with convenient opportunities to access global services in local denominations.
“We are thoroughly delighted at Verve International and Interswitch with this global recognition on the Payments Power 50 list for 2025, as we continue to consolidate our delivery of global-standard payment solutions essentially tailored to economic and operational realities of the markets where we play across Africa, whilst leveraging value-adding partnerships that ensure we scale our impact and turbo-charge financial inclusion on the African continent.
We are grateful to all our customers and partners, and indeed all our colleagues at Verve and Interswitch whose passion and consistent hard work have invariably facilitated global acclaim….” Stated Vincent Ogbunude, Managing Director for Payment Cards and Tokens at Interswitch and CEO for Verve International.
“Each year, The Power 50 celebrates the standout talent within the fintech community, showcasing ground-breaking companies and influential leaders from across the globe,” says Jason Williams, CEO of The Power 50. “Earning a place on The Power 50 is a testament to the impact individuals and businesses are making in shaping the future of fintech. It also serves as a trusted benchmark for excellence in the industry.”
It would be recalled that Interswitch Group also achieved recognition in the 2022 Global Fintech Power-50, in its 20th anniversary year. The Payments Power 50 will be featured on www.thepower50.com, with honourees benefiting from exclusive content opportunities, networking events, and year-round industry engagement. Members of this 2025 inaugural cohort of The Payments Power-50 will be celebrated at the Payments Power 50 Launch Party in London at the Blue Marlin Ibiza on Wednesday, March 26, powered by The Power 50, Pay360, CCGroup, and Paymentology.
