Global cross-border payments platform Verto, in partnership with Visa, has launched a multi-currency corporate card designed to help African businesses reduce foreign exchange costs, improve international spend management and operate more efficiently across global markets.
Verto operates in Uganda by providing cross-border B2B (business-to-business) foreign exchange and payment services.
The Verto Card allows businesses to spend directly from their existing Verto currency balances, rather than moving money between accounts or converting funds before making a payment. Businesses can access 11 currencies directly through their Verto wallets and reach more than 160 additional currencies through Visa’s global payments network with zero FX markups on 10 major currencies.
The launch comes as businesses increasingly operate across multiple markets, creating a growing need for a multi-currency card that enables you to spend in: US Dollar (USD), Euro (EUR), Japanese Yen (JPY), Pound Sterling (GBP), Swiss Franc (CHF), Canadian Dollar (CAD), Australian Dollar (AUD), New Zealand Dollar (NZD), Norwegian Krone (NOK), Swedish Krona (SEK), without the need to manually move funds between wallets or pay a penalty on FX conversions.
Businesses can collect major global currencies like USD, EUR, and GBP and settle transactions in Ugandan shillings.
The solution is designed for businesses operating across multiple markets, including importers, exporters, technology firms, digital businesses and professional services companies increasingly managing suppliers, subscriptions and operational expenses internationally.
Ola Oyetayo, CEO and Co-founder, Verto, said the launch responds to a growing infrastructure gap facing African businesses trading internationally.
“African businesses are expanding across borders faster than the financial infrastructure supporting them. Increasingly, the challenge is not market access, but how money moves. Many companies are still losing value through unnecessary FX losses, delayed settlement and fragmented banking processes that directly affect profitability and growth. The Verto Card is designed to give businesses greater control over international spending while reducing some of the friction that has traditionally come with cross-border trade”.
The Verto Card is accepted at more than 150 million merchants globally wherever a Visa Credit or Debit card is accepted, including merchants that require credit-card payment rails. This gives businesses access to an unparalleled range of international merchants while using a single card linked to their Verto account.
The Verto Card allows businesses to fund transactions directly from existing Verto multi-currency wallets, helping reduce unnecessary currency conversions while improving visibility and control over international spending. The platform also includes spend controls, instant card issuance and enhanced transaction security.
“Managing multiple currencies should not be a barrier to growth for businesses looking to scale internationally”, said Shahebaz Khan, SVP and Head of Commercial & Money Movement, Visa. “Our partnership with Verto helps simplify how businesses pay suppliers, manage expenses and transact internationally, while providing the security and global acceptance they expect from Visa.”
As businesses across East Africa expand into new markets, the ability to move and manage money efficiently across borders is becoming increasingly important. From paying international suppliers and managing subscriptions to covering operational expenses across markets, businesses need payment infrastructure that can keep pace with increasingly global operations.
This launch forms part of Verto’s broader expansion of its global treasury and payments infrastructure, supporting businesses across emerging markets as they scale across borders and explore new opportunities globally.
