Verto, B2B global payments platform has launched its new Verto Card in partnership with Visa, introducing a multi-currency corporate card designed to help African businesses manage international payments and spending more efficiently.
Supporting Global Business Transactions
The Verto Card is linked directly to Verto wallets and enables businesses to fund, spend and settle payments across multiple currencies. The card supports transactions in 11 currencies, with zero foreign-exchange markups on eligible currencies, while providing indirect access to an additional 160 currencies.
Verto said the new card is designed to address challenges faced by African companies operating internationally, including foreign-exchange costs, payment declines and difficulties associated with managing multiple settlement currencies. The cards are accepted at 150 million merchants globally through Visa’s payment network.
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Businesses can transact in currencies including the US dollar, euro, Japanese yen, pound sterling, Swiss franc, Canadian dollar, Australian dollar, New Zealand dollar, Norwegian krone and Swedish krona. The model eliminates the need for customers to manually move funds between different wallets when making eligible international payments.
Designed for SMEs and Digital Businesses
The company said the card could benefit African SMEs, importers, SaaS companies and digital media buyers that regularly make international payments. By connecting corporate cards directly to Verto wallets, businesses can manage global spending while reducing some of the payment and foreign-exchange challenges associated with traditional prepaid cards.
“African businesses have been underserved by the card products that exist today. They are either locked into a single currency, hit by undisclosed fees, or declined at checkout because their card runs on prepaid rails. This new partnership with Visa reshapes corporate cards for international businesses, moving beyond the limitations of traditional banking and prepaid card structures, and expanding what is possible for global business transactions.”
-Ola Oyetayo, CEO and Co-founder, Verto
Security and Spending Controls
Security and spending management are also built into the Verto Card. Sensitive card information is retained within Verto’s platform, while transactions are authenticated through 3D Secure using a one-time passcode or in-app confirmation. Businesses can also apply controls based on factors such as date, time and merchant category.
“The future of business payments lies in solutions that combine global connectivity with local innovation. Through our partnership with Verto, we are expanding access to modern payment capabilities that help businesses move money more efficiently, while enabling fintechs and financial institutions to deliver new value to their customers.”
-Shahebaz Khan, SVP and Head of Commercial & Money Movement, Visa
Verto said it plans to further expand the platform through Google Pay mobile wallet integration and a Cards-as-a-Service (CaaS) offering through its Atlas infrastructure. The planned service will allow fintechs and banks to embed card issuance into their own platforms through white-label arrangements supported by Verto’s licensing and Visa’s payment network.
