Verto's Multi-Currency Card Simplifies International Payments for African Businesses

African businesses can now manage international payments and reduce foreign exchange costs thanks to a new multi-currency corporate card launched by Verto, in partnership with Visa. The card allows companies to spend directly from their Verto accounts without transferring funds between accounts or converting currencies before making payments.

The card supports direct spending in 11 currencies, including the US dollar, euro, and Japanese yen, while enabling transactions in more than 160 additional currencies through Visa's global payment network. This means businesses can make international payments without the need for multiple banking arrangements.

Verto Chief Executive Officer Ola Oyetayo said the product was developed to address challenges faced by African companies seeking to expand across borders. 'African businesses have grown across borders far faster than the financial infrastructure serving them,' he stated. 'The challenge is not market access; it is how money moves.'

The card is designed for businesses with international operations, including importers and exporters, technology companies, digital businesses, and professional service providers. It includes spend management tools, instant card issuance, and enhanced transaction security features.