Verto in FXCompared.com push B2B multi-currency account

Valentina Vitali

Research Analyst

Valentina is a research analyst and passionate about payments and fintech. Valentin enjoys analyzing money transfer companies and the market. In her work, Valentina analyzes payment data… Read more

  • Verto, which is a business-to-business provider of online money transfer services, has announced that it will start offering services in multiple currencies around the world as part of a push to offer better payments.
  • The new arrangement will allow businesses to take and give money in 190 locations around the world, and funds can be held in more than 50 currencies under the new program.
  • “Effective multi-currency solutions are imperative to support and boost international business across borders, especially in emerging market economies,” a senior Verto official said in remarks to the press.

Verto, a foreign exchange service provider in the online money transfer industry, has confirmed that it will start providing multi-currency services worldwide.

The provider, which operates in the business-to-business sector and has a strong focus on foreign exchange, will allow businesses to send and accept money in 190 locations around the world.

They will also be able to hold funds in more than 50 currencies, it is believed.

In a statement, a senior Verto official explained what the company’s global account solutions offering could bring to businesses and sellers based in Britain.

Chief executive Ola Oyetayo said it could help with various forms of expansion companies might have planned.

“With our global account solutions, we now support businesses and merchants in the UK, US, Europe and emerging markets who need to access overseas account capabilities in neighboring countries to regional and global expansion,” he said.

He added that multi-currency options are helpful when it comes to moving international businesses forward.

“Effective multi-currency solutions are imperative to support and boost international business across borders, especially in emerging market economies,” he explained.

Oyetayo also said businesses that have been “left behind” and do not have access to the financial services they need must be helped.

“Companies that are often left behind and without access to the financial services sector by traditional incumbents must be equipped with the ability to send and receive payments in a flexible, accessible and transparent way,” he said. Explain.

Verto, which is based in London and claims to have over 7,000 customers, has been going through a period of change lately.

The company received a cash injection in September last year when it received US$10 million in Series A funding.

This new move therefore marks an important step in the continued development of the company.

In his remarks, Oyetayo went on to identify how this newly emboldened Verto brand would help improve the shopping experience.

“That’s where Verto comes in. Our new global account solutions provide businesses with innovative multi-currency services on the receive side, further enhancing Verto’s payment capabilities,” he said.

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