Global payments company Verto has launched a multi-currency corporate card in partnership with Visa, giving businesses the ability to make international payments using funds held in multiple currency wallets.
Verto announced the launch on Monday, saying the card allows customers to transact directly in 11 currencies and access payments in more than 160 additional currencies through Visa’s network.
The company said the card was built to address common challenges businesses face with cross-border payments, including foreign exchange costs, payment declines, and the need to manually move funds between currency wallets.
The Verto Card is linked directly to customers’ Verto wallets and can be used anywhere Visa is accepted. It supports direct transactions 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, with no additional foreign exchange markup on eligible transactions.
Verto said the card is aimed at businesses such as small and medium-sized enterprises, importers, software-as-a-service companies and digital media buyers handling international transactions.
Verto’s Chief Executive Officer and co-founder, Ola Oyetayo, said the product was developed in response to gaps in existing corporate and prepaid card offerings for African businesses. “African businesses have been underserved by the card products that exist today.
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They are either locked into a single currency, hit by undisclosed fees, or declined at checkout because their card runs on prepaid rails,” he said, adding that the Visa partnership gives businesses an alternative to traditional banking and prepaid card arrangements for international payments.
On security, Verto said the cards use 3D Secure authentication via one-time passwords or in-app confirmation, and allow businesses to set controls based on factors such as transaction dates, times and merchant categories.
Visa’s Senior Vice President and Head of Commercial and Money Movement, Shahebaz Khan, said the partnership is intended to widen access to payment solutions for businesses operating across borders.
“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,” Khan said.
Verto said it plans to add mobile wallet integration through Google Pay and introduce a Cards-as-a-Service offering through its Atlas infrastructure.
The proposed service would let fintech companies and banks embed card issuance directly into their own platforms through white-label arrangements, using Verto’s licensing infrastructure alongside Visa’s payment network.
