Nigeria | Verto introduces its groundbreaking innovation: Verto Pay. This advanced mobile app aims to transform how Nigerian SMEs handle financial transactions, simplifying cross-border commerce while reducing FX and transaction costs.
Verto Pay revolutionizes international payments for SMEs, integrating a multi-currency wallet with USD, GBP, EUR, and NGN options. This empowers business owners to navigate the global market effortlessly, eliminating the hassle of wire transfers and delays. With instant virtual card access, real-time transaction tracking, and higher spending limits, Verto Pay ensures uninterrupted business operations.
Ola Oyetayo, CEO and co-founder of Verto, emphasises the significance of Verto Pay in empowering Nigerian SMEs: “Verto recognizes the urgent need for SMEs in Nigeria to transact globally without constraints. With Verto Pay, we’re delivering a seamless and integrated financial experience tailored to the needs of forward-thinking businesses. This virtual debit card for businesses isn’t just about managing finances; it’s about giving business owners the agility to thrive in the global marketplace, overcoming challenges like late payments and low transaction limits by banks.”
In a landscape witnessing 35% annual growth in digital payment adoption in Nigeria, Verto Pay emerges as a game-changer. Its increased transaction volume limit removes growth barriers, alleviating cash flow constraints and administrative burdens for SMEs. Moreover, Verto Pay’s extensive acceptance network in key importing countries facilitates smooth cross-border transactions.
Verto Pay isn’t just a debit card; it’s a lifeline for Nigerian SMEs, streamlining various financial operations from supplier payments to travel expenses. With SMEs contributing 48% to Nigeria’s GDP and representing 96% of businesses, Verto Pay’s launch is timely, supporting the backbone of Nigeria’s economy.
