Verve, Africa’s domestic card scheme, is exploring contactless payment technology that would allow users to make transactions by tapping their smartphones on compatible payment terminals. The company is also considering AI agent payments, a developing technology that enables artificial intelligence systems to initiate transactions on behalf of users, potentially reshaping how consumers and businesses make digital payments.
The proposed innovations reflect growing competition in the digital payments industry, where convenience, speed and security are becoming increasingly important. Phone based contactless payments could reduce reliance on physical payment cards, while AI agent payments could automate routine purchases and business transactions.
However, wider adoption will depend on reliable infrastructure, strong authentication systems and safeguards against fraud and unauthorised transactions. For Nigeria’s fintech ecosystem, the developments present opportunities to expand digital payment options while raising important questions about consumer protection, data privacy and accountability for AI driven transactions.
Verve’s plans signal the potential direction of Africa’s digital payments market as providers explore new ways to improve transaction experiences. If successfully implemented, the technologies could create new opportunities for merchants, financial institutions and technology businesses operating in Nigeria’s growing digital economy.