Verve International, the card scheme subsidiary of Interswitch Group, has unveiled Verve Tokenization, a next generation security solution aimed at protecting cardholder data and accelerating digital commerce adoption across Africa. The launch took place at the 2026 Verve Biz Unwind held at the Radisson Blu Anchorage Hotel, where industry stakeholders gathered to examine the future of payments on the continent.
The event brought together banks, fintech innovators, merchants and payment processors in what organisers described as a strategic forum for collaboration within Africa’s rapidly evolving financial ecosystem. The introduction of Verve Tokenization comes amid growing demand for contactless payments and embedded finance solutions, trends that have significantly reshaped consumer expectations around speed, convenience and security.
The new technology replaces sensitive cardholder information with unique, device bound digital tokens, ensuring that actual card details are not transmitted during transactions. Each payment generates a distinct cryptogram, preventing exposure of raw data and reducing vulnerability to breaches and fraud. By limiting the circulation of sensitive information, the system is designed to create a safer digital environment for both consumers and businesses.
Speaking at the event, Paul Ohakim, Vice President for Issuing and Acquiring in Africa at Verve International, stressed that the complexity of today’s payment landscape requires coordinated action among industry players. He noted that tokenization represents a structural shift in how payments are secured and monetised, enabling a single Verve card to operate safely across wallets, banking applications and online checkout platforms.
Organisers added that the initiative aligns with broader industry shifts toward contactless adoption, open banking frameworks and real time payments, positioning Africa’s payment infrastructure to withstand emerging cyber threats while supporting the scale of digital trade.