Verto’s UAE Launch Ushers in Faster Cross-Border Payments, Boosting Trade with Africa
Verto, a leading cross-border payments platform, has expanded its operations to the United Arab Emirates (UAE). This strategic move is designed to revolutionize high-value, time-critical financial transactions, especially those occurring between the Gulf region and emerging markets, with a strong emphasis on facilitating trade with Africa.
Addressing the Needs of Businesses Trading with Africa
The UAE’s increasing commercial activities with Africa have highlighted inefficiencies in traditional banking systems. Businesses frequently face delays in settlements and unclear fees, which complicate their operations. Verto is designed to resolve these issues. The platform provides instant payments, transparent foreign exchange rates, and real-time tracking capabilities. This functionality is particularly beneficial for enterprises managing complex supply chains. Verto already processes over $25 billion annually for clients like Unilever and Maersk. It has established operations in key African markets, including Nigeria, Kenya, South Africa, and West Africa, as well as China. This expansion into the UAE is supported by licensing from the Dubai Financial Services Authority (DFSA).
In conclusion, Verto’s UAE platform integrates local operations with its worldwide payment infrastructure. This will ensure faster settlements, with payments being cleared within hours rather than days.
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