Premier Nigeria’s payment transactions switching firm, InterSwitch Limited, has unveiled its multi-purpose chip card on the continent called Verve.
Managing Director, InterSwitch, Mr. Mitchell Elegbe said at the unveiling in Lagos that his company has scored another first with Verve as it’s the first African branded MasterCard MChip4 payment card.
This, he said, was in line with the Central Bank of Nigeria (CBN) recent directive mandating all the banks in the country to convert all existing magnetic stripe cards to a more secure chip and Personal Identification Number (PIN) platform before the end of this year.
He also said that this CBN directive spurred his firm to launch Verve card, describing the decision as being the best for the industry and financial transacting public.
“Verve Chip and PIN card is specially designed by Nigerians for the world, to drive awareness for the brand in Nigeria and Africa,” he asserted, stressing that InterSwitch has employed the services of three top media consultancy firms made up of two advert agencies including Verdant Zeal and Bates Cosse, while eMaginations, a firm with bias for technology brand, would handle the media consultancy.
According to him, Verve Chip and PIN card has the capability to offer more value to cardholders, merchants and banks, disclosing that his firm has launched a campaign tagged ‘Get More Out of Life’ to enlighten cardholders in the country and beyond on the features and attributes of the Verve card brand.
“Verve offers more access channels and delivers more security features, more rewards and more value to users,” Elegbe said.
Also speaking at the launch, the Brand Manager at InterSwitch, Mrs. Tobi Boshoro, said that Verve rides on unbeatable reach hinged on its potential for acceptance and use across all available payment channels in the country.
“Verve cardholders can carry out payment transactions on over 11,000 Point of Sale (PoS) terminals, over 7,300 Automated Teller Machines (ATM), over 200 web merchants’ sites and on 50,000 mobile phones as well as kiosks,” she said.
Mrs. Boshoro also noted that Verve usage comes with rewards across all banks in the country as cardholders who make purchases on any of the electronic terminals, “Verve leverages the memory of its chip to incorporate loyalty schemes that reward loyal customers.”
On the security aspect, she said that Verve is one of the most secured chip and PIN cards around developed using the MasterCard Mchip4 standard in addition to inbuilt fraud management solutions.
Pointing out that Verve has the capability to enable merchants have online, real-time access to all their operations and activities, which ensures an enhancement of PoS terminals currently in many merchant locations nationwide.
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