By Modupe Gbadeyanka
Nigerian payment card brand owned by Interswitch Group, Verve, has expanded its reach in Uganda, with a partnership with KCB Bank Uganda Limited.
The new deal between both firms will see KCB Bank become one of the first commercial banks to accept the Verve Card on its widespread and strategically distributed Point of Sale (POS) merchant network.
The synergy will ease payments for Verve cardholders countrywide, leveraging the vast footprint of KCB Bank across Uganda. In Uganda, the Verve payment scheme has multiple banks, Saccos, MDIs and exhibits a strong potential for expansion.
According to the Head of Retail Banking at KCB Bank Uganda, Mr Michael Ssekyondwa, the partnership aligns with the lender’s agenda to drive digitally-led products and services to ease the lives of customers.
He further stated that this arrangement further highlights KCB Bank’s focus to provide innovative banking solutions across Uganda.
Also commenting, the Head of Products and Operations at Interswitch East Africa, Uganda Limited, Damalie Sajjabi, said: “The Verve Payment Scheme entered the Ugandan market to provide flexible, customised and cost-effective tokens to financial institutions.
“Verve Card acceptance at KCB POS locations is the next phase in our journey of easing accessibility of payment services for all Verve cardholders and the other financial institutions which join the Verve family.”
Verve is a pan-African payment scheme focused on the digitization of payments in Africa. The Verve card is tailored to cater to financial institutions and customers across different segments, considering lifestyle usage, security, and cost management among other important qualities.
