B2B cross-border payments firm Verto has partnered with Xente, a multicurrency digital payments platform for African businesses, to provide cross-border payment services to non-governmental organizations (NGOs) in Uganda.
Verto will leverage Xente’s connectivity in Africa, which permits customers to pay verified beneficiaries even in remote areas, according to a Tuesday (Sept. 13) IBS Intelligence report.
Commenting on the news, Diana Mihaylova, vice president of business development at Verto, said: “We’re building modern banking solutions for all businesses around the world, creating a fairer and more inclusive financial ecosystem for those in underserved regions.
“Through our partnership with Xente, we’re able to support Non-Governmental Organisations with sending and receiving seamless cross-border payments, so they can focus on what matters most.”
The report noted that NGOs are a driving force in developing Uganda, offering a number of services around healthcare, education and social welfare. Through the partnership, NGOs can track all payments made to their organization, ensuring the payment journey is safe and transparent.
Kevin Nganga, country lead at Verto, added that “NGOs play a leading role in providing health care, education and many other crucial services all across the African continent. At the same time, the non-profit sector continues to grow rapidly in size and importance and we’re incredibly proud of our new partnership with Xente to support development in Uganda.”
The latest announcement comes a month after Verto launched a new application programming interface (API) solution, which it said will help clients automate currency conversion, global payouts and beneficiary management.
The API solution is intended to let FinTechs, financial institutions, payroll, HR companies, invoice management solution providers and large enterprises customize their own payment solutions and create their own foreign exchange and payment flows, the firm stated in a press release.