Verto and Xente partner to offer cross-border payments in Uganda

By Edlyn Cardoza

Verto, one of the leading B2B cross-border foreign exchange (FX) and payments enabler, today announced that it has partnered with Xente, a financial technology company simplifying finance for African businesses, to offer seamless cross-border payments to Non-Profit Organisations (NGOs) in Uganda.

Diana Mihaylova, VP of Business Development at Verto, said: “At Verto, 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.”

Businesses can face many challenges when transacting and conducting business in Africa, including high transaction fees, long settlement periods, and copious paperwork. NGOs have become key actors in the development process in Uganda, providing services to communities in healthcare, education, social welfare, and poverty alleviation. At Verto, solving the trade and cross-border payment complexities faced by companies in emerging markets is a great foundation for building a future of greater financial inclusion for all.

“NGOs play a leading role in providing health care, education and many other crucial services all across the African continent, said Kevin Nganga, Country Lead at Verto. “At the same, 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.”

By partnering with Verto, Xente can offer NGOs a seamless cross-border payment method and the ability to track all payments made to their organisation, creating a secure and transparent payment journey for sending and receiving funds. The partnership brings together Verto’s robust cross-border payments solution with Xente’s connectivity in Africa, which permits customers to pay verified beneficiaries even in the remotest places.

“Xente is committed to providing businesses in Uganda with the payment choices they need at any time. This partnership with Verto perfectly served our mission to connect Ugandan organisations and businesses with the global economy, ensuring they can efficiently and transparently automate payments and simplify finance processes, added Allan Rwakatungu, CEO and Founder of Xente. “We’re looking forward to working with Verto to connect Non-Governmental Organisations with the best-in-class technology they provide.”