Verve International Welcomes Cinetpay into Its Network
Africa’s leading payment technology and card business, Verve International has welcomed its first francophone ecommerce and merchant aggregator, CinetPay into the Verve ecosystem.
Africa’s leading payment technology and card business, Verve International has welcomed its first francophone ecommerce and merchant aggregator, CinetPay into the Verve ecosystem. CinetPay, the Ivorian-based FinTech provides online and Point-of-Sale (POS) payment solutions for merchants to process payments from more than 40 different payment operators in West and Central Africa.
This partnership is expected to further establish the Verve footprint across the region and support merchants to accept Verve cards from customers of issuing banks in 13 African countries.
Speaking on the partnership, the Chief Executive Officer (CEO) of Verve International, Vincent Ogbunude commented;
“We are pleased to welcome CinetPay to the Verve network - the next in a series of strategic African FinTech partners we are welcoming into our network. As the leading pan-African payment scheme, our focus remains to rapidly expand and deepen our network by partnering with FinTech companies, switches, processors, banks, merchant aggregators, and regulators. CinetPay is one of such partners and we look forward to deepening our impact through this mutually beneficial partnership.”
Also commenting, Idriss Marcial Monthe, CEO and Co-founder of CinetPay said;
‘’We are pleased with this partnership with Verve International which will broaden the payment collection choices for our merchants. This partnership brings us closer to our ambition, known to all and which is to offer the best online payment experience in Africa through simple, fast and secure transactions.’’
The partnership was birthed following months of a collaborative effort by the CinetPay team, Verve’s joint partner bank in the West African Monetary and Economic Union (UEMOA), and various teams in Verve International and Interswitch Group.
In recent times, Verve has focused on leveraging strategic partnerships to heighten its impact across African regions. In the East African region, the payment scheme deepened its partnership with KCB Bank of Uganda in a move that saw the acceptance of the Verve Card on KCB Bank’s widespread and strategically distributed Point of Sale (POS) merchant network in Uganda.
Verve International is the first and only EMV-certified pan-African payment scheme, issuing cards and payment solutions to individuals, issuers, and organizations; and remains committed to pushing the bounds in terms of customer experience and payment possibilities.
Verve International is a pan-African EMV payment scheme, and member of the Interswitch Group, Africa’s leading integrated payment processing and transaction switching company. As the biggest and fastest-growing pan-African payment scheme, Verve has issued over 50 million physical (plastic) and digital tokens accepted in 22 African countries and is issued across 13 countries, thanks to its Africa-tailored solutions.
CinetPay, is a digital finance platform that enables merchants in Francophone Africa to seamlessly accept and make payments. Headquartered in Abidjan, the firm has over 20,000 merchants on its platform, has processed +8 billion transactions since 2016, supports 40 different payment operators and provides services in nine francophone African countries i.e. Ivory Coast, Senegal, Cameroon, Mali, Burkina Faso, Togo, Congo, Guinea and Benin. In 2021, CinetPay raised a US$2.4 million seed funding round to boost its sales and marketing efforts across nine markets in West and Central Africa i.e. Benin, Burkina Faso, Cameroon, Congo, Côte d’Ivoire, Guinea, Mali, Senegal and Togo.