Lagos - Nigerian consumers will now be able
to carry out daily transactions without physically using their bank cards
thanks to an application a leading payment card brand has launched.
Verve International has unveiled the offering, tagged
‘Verve World’, to stakeholders at an event in Victoria Island, Lagos.
Through the offering, users are able to store payment
instruments from all major card brands in Nigeria. In addition to debit, credit
and prepaid cards, and Verve eCash bank accounts can also be added to the app.
The app features ‘Paycode’, Verve’s latest innovation.
Users of the Verve World app can generate a ‘Verve
Paycode’, a unique one-time code valid for 24 hours, which can be used to
withdraw cash from an ATM machine without a card.
The Verve Paycode can be sent to a beneficiary to
withdraw a pre-set amount of money from most automated teller machines in the
ATMs belonging to several banks are being upgraded and
would have the service available in a few weeks.
There are currently over 5 000 ATMs across Nigeria where
Verve Paycode can be used. This will rise to over 11 000 ATMs by the end of
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Officials said Verve Paycode was the latest in a string
of initiatives and partnerships as Verve International continues to innovate
and consolidate its leading position in payment transactions and services
Chief Executive Officer of Verve International, Charles
Ifedi, said the Verve World app had been tailored specifically for the African
market and an example of how the company continued to push the boundaries of
technological innovation to address local payment challenges.
“We continue to see growing demand from our cardholders
for easy, secure and convenient payment methods irrespective of the payment
instrument being used. Therefore we designed the app to address the need for
urgent access to cash without a card. We believe that the technology this app
offers will revolutionize how we manage our money,” said Ifedi.
Launched in 2009, Verve is the biggest payment card brand
in Nigeria and is rapidly expanding issuance and acceptance across the African
Verve is currently issued in five African
countries: Nigeria, Ghana, Uganda, Kenya and Gambia and accepted in a further
- CAJ News