Verto and Visa Unveil Multi-Currency Corporate Card for African Businesses

The financial technology company Verto and payment giant Visa have launched a new multi-currency corporate card to help African businesses reduce cross-border payment costs.

The Verto Card allows companies to spend directly from their existing currency balances, eliminating the need for fund transfers or currency conversions before making payments.

The card supports 11 currencies and offers access to over 160 additional currencies through Visa's global network. It also features zero foreign exchange markups on major currencies such as the US dollar, euro, and Japanese yen.

Ola Oyetayo, CEO of Verto, stated that African businesses are expanding faster than their financial infrastructure can support, leading to significant losses from foreign exchange costs and delayed settlements.