Verto and Visa launch multi-currency cards for African businesses

What the report says

Verto, a cross-border payments platform, has launched a multi-currency corporate card in partnership with Visa, according to The Independent Uganda. The announcement was made in Kampala and is aimed at African businesses that need to manage international spending more efficiently and reduce foreign exchange costs.

The new Verto Card lets companies spend directly from balances already held in their Verto wallets, rather than moving money between accounts or converting funds before each payment. The company said the card supports 11 currencies directly and connects to Visa’s wider network for access to more than 160 additional currencies. It is also presented as offering zero foreign exchange markups on 10 major currencies.

The report says the product is intended for businesses operating across multiple markets, including importers, exporters, technology firms and professional services companies. It can be used at millions of merchants worldwide wherever Visa cards are accepted, and includes features such as spend controls, instant card issuance and transaction security. Businesses can also collect some major currencies and settle transactions in Ugandan shillings.

Verto said the launch addresses broader payment and treasury challenges facing African firms engaged in cross-border trade. Visa, through its commercial and money movement division, said the partnership is meant to make international payments simpler while preserving global acceptance and security.