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Interswitch · Launched 2009
Nigeria's domestic card scheme, issued alongside Visa and Mastercard and priced below them for local transactions.
A scheme- or regulator-set rate, or a widely reported figure. Source: CBN-capped domestic card MDR.Official site ↗
Online · percentage component
Rates are step functions: each level holds until it is replaced.
Online pricing across every country where this method is available, with the cost on a NGN 100.00 payment for comparison.
| 1.5%, capped at KES 2,000.00 |
| KES 1.50 |
| 1.50% |
| 23 Dec 2024 |
| Reported rate |
| Nigeria | 1.5%, capped at NGN 2,000.00 | NGN 1.50 | 1.50% | 11 Aug 2025 | Reported rate |
Every recorded change, newest first, with the movement from the rate it replaced.
Interchange mix shifted toward premium consumer credit cards.
In Nigeria, on the online channel: 1.5%, capped at NGN 2,000.00, in force since 11 Aug 2025 (reported rate). Fees differ by market and channel, and the table above lists each one.
It is priced in 3 markets here: Ghana, Kenya, Nigeria. A market missing from the list has not been recorded yet, which does not mean Verve is unavailable there.
It is recorded as next day. Actual timing can depend on cut-off times and on the receiving account.
Yes. It has a chargeback process, so a buyer can dispute a payment through their provider. For a business, that protection comes with dispute fees.
Yes. It is a payment method businesses accept, and the fees shown are what a merchant pays to be paid through it.
Ghana