Introduction

Verve, Nigeria's largest card scheme, is expanding beyond physical cards with new phone tap-to-pay and AI-driven agent payment features. The initiative aims to streamline transactions and reduce unnecessary cost drivers in the payments ecosystem.

What Happened

At Moonshot by TechCabal on October 29, Verve CEO Vincent Ogbunude announced the scheme's move into phone-based tap-to-pay and future AI assistant payments. The tap-to-pay feature allows customers to pay by tapping their phones, eliminating the need for a physical card. Looking ahead, AI assistants could complete purchases on a user's instruction without manual intervention.

Why This Matters

Every additional step in a payment—from typing account numbers to retrying failed transfers—increases cost and friction for users. By enabling phone tap-to-pay and agentic transactions, Verve seeks to improve the payment experience for millions of Nigerians. The rollout builds on last year's contactless and tokenisation push, with card volumes growing from 100 million to 130 million.

Key Takeaways

  • Verve plans phone tap-to-pay and, eventually, AI agent payments to reduce transaction friction.
  • The features were announced at Moonshot 2026 by CEO Vincent Ogbunude.
  • Tap-to-pay lets users pay with their phones, eliminating the need for a physical card.
  • AI agent payments would allow assistants to complete purchases autonomously.
  • Verve's card base has grown to 130 million, up from 100 million last year.
  • Global networks like Visa and Mastercard are also pursuing AI-driven payment flows.
  • The initiative reflects Interswitch's broader mission to reduce payment friction across Nigeria.

Conclusion

Verve's push into phone tap-to-pay and AI agent payments marks a significant step toward simpler, faster transactions in Nigeria's evolving digital economy. Whether customers and banks will trust software to handle payments remains the next big question, but the move signals a shift from card ownership to frictionless payment experiences.