You Can Now Manage Cross Border Payments in Naira and KES with Verto Reserve

Verto, a prominent global platform for cross-border payments, has today unveiled Verto Reserve, an innovative feature that enables businesses to earn interest on their holdings in G10 and African currencies, irrespective of their country of incorporation.

Customers can now effectively utilize idle funds residing in various currency wallets and accounts, achieving interest earnings of up to 10%, thus providing a distinctive opportunity for businesses to enhance their treasury management.

With Verto Reserve, customers can effortlessly establish interest-earning accounts in Nigerian Naira (NGN) and Kenyan Shilling (KES) with just a few clicks. This process removes the necessity of having a local entity in these nations to benefit from local currency interest rates. Businesses can now oversee their cross-border payments while simultaneously capitalizing on interest-earning savings and treasury management, all within Verto’s integrated platform.

Verto is collaborating with financial institution partners that possess the requisite licenses in Kenya and Nigeria to offer deposit-taking services for the Reserve product.

“We recognize that businesses operating on a global scale frequently maintain substantial balances in various currencies,” states Verto CTO Anthony Oduu. “Verto Reserve is crafted to ensure those funds are utilized more effectively. We are excited to present a genuinely unique all-in-one solution that enables our customers to earn interest in key African and G10 currencies, even without a local presence in those markets.”

With Verto Reserve, Verto stands as a comprehensive solution, providing a robust combination of seamless payment processing and appealing interest-earning prospects.