By Joy Dumasia
- API payments
- Cross-border B2B
Verto, the leading B2B cross-border payments and foreign exchange (FX) facilitator, has announced the launch of its new API solution, enabling businesses to automate currency conversion, global payments and payee management. As the industry embraces integrated finance, more companies outside of traditional finance organizations are beginning to provide financial services relevant to their existing products. ResearchAndMarkets.com shows that the in-app payments industry, in particular, is expected to grow from US$124,755.7 million in 2022 to US$380,573.2 million by 2029.
Verto’s API solution enables FinTechs, financial institutions, payroll companies, human resources companies, accounting and invoice management solution providers and large enterprises to access a complete ecosystem of financial services, to customize their payment solutions in a transparent way and to create their exchange and payment flows. Built on Verto’s RESTful API, purpose-built to minimize onboarding time while simultaneously allowing them to easily scale globally.
This new solution further reinforces Verto’s mission to provide the infrastructure that powers the world’s fastest growing e-commerce start-ups, enterprises and merchants, enabling businesses in mature and emerging markets equal access to the global financial system. With the Verto API, businesses have complete freedom to automate currency conversions, track payments and real-time exchange rates, and easily transact globally.
Verto is in the midst of rapid growth and expansion after a $10 million Series A funding round last year, and the launch of the API solution is the next natural step in the company’s ambition. solve the fragmented landscape of cross-border payments in emerging market economies. .
“Verto’s new API solution will empower businesses globally, giving them the fastest and most efficient way to integrate local and international payments into their products,” said Anthony Oduu, co-founder and technical director of Verto. “Our RESTful API was designed with developers in mind to reduce the onboarding period while allowing business owners to grow globally.”
CEO and Co-Founder Ola Oyetayo said, “Integrated finance is the next big step for our industry. And integrated payments, in particular, are making life easier for businesses and consumers everywhere by completely streamlining the onboarding process, increasing customer satisfaction and opening up new revenue opportunities for businesses. Although the adoption of APIs is a big change for the industry, our partners have shown great interest in this solution. »
Recently, IBS Intelligence reported that Verto, the leading B2B foreign exchange (FX) and cross-border payments facilitator, announced the launch of its global multi-currency account. With Verto’s Global Account, businesses can easily receive and send payments to 190 destinations and hold funds in 51 currencies, making Verto a one-stop-shop for businesses around the world.