Verto launches in UAE to streamline cross-border payments to Africa
Verto has launched its platform in the UAE to boost B2B cross-border payments, with a focus on emerging African markets, according to a company press release published in news platform Zawya.
The UK-based fintech firm said that it processes payments of more than $25bn annually for clients such as Unilever and Maersk, through its platform.
The platform addresses challenges in cross-border payments by facilitating faster, more secure, and cost-efficient transactions.
It integrates local operations in the UAE with payment channels in key markets.
The integration benefits businesses trading between the UAE and other regions, such as Nigeria, Kenya, South Africa, West Africa, as well as China, said the company.
Verto CEO and co-founder Ola Oyetayo said: “Businesses are the lifeblood of global supply chains, but they face constant challenges from currency volatility and slow, traditional payment systems.
“Verto empowers these businesses by giving them the tools to mitigate FX risk, accelerate settlements, and optimise their cash flow.
“We believe in providing global reach with local strength, leveraging our expertise in key emerging markets to ensure that wherever a company’s goods go, their payments follow instantly and securely.”
Verto specialises in facilitating high-value, time-sensitive transactions, with expertise in emerging market corridors across Africa and the Middle East.
The company’s Dubai office is situated in the Emirates Financial Tower, DIFC.
Its launch in Dubai has been authorised by the Dubai Financial Services Authority for money services and financial advisory.
Verto UAE country manager Helen Ghebreluul said: “The UAE is a pivotal hub for global commerce, and businesses here demand solutions as dynamic as their operations.
“Our platform is built to handle the high-value, time-sensitive nature of these transactions, particularly in emerging markets in Africa.”
Earlier this year, Verto launched The Atlas Suite, an API-first solution designed to simplify international financial transactions for financial institutions and marketplaces.
“Verto launches in UAE to streamline cross-border payments to Africa ” was originally created and published by Electronic Payments International, a GlobalData owned brand.
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