Verto launches embedded FX payments solution

Rick Steves

The Verto API automates currency conversions, tracks payments and exchange rates in real-time, and is being launched in the follow-up of a $10 million in Series A funding last year.

Verto has launched its new API solution for automation of currency conversion, global pay-outs, and beneficiary management.

The provider of B2B cross-border payments and foreign exchange (FX) solutions is doubling down on its API solution as embedded finance becomes an increasingly popular way to help companies outside of traditional financial organizations to provide financial services relevant to their existing products.

The embedded payments industry in particular is expected to increase from US$124,755.7 million in 2022 to reach US$380,573.2 million by 2029, according to data from ResearchAndMarkets.com.

Embedded finance is the next big thing

Anthony Oduu, Co-Founder and CTO of Verto, said: “Verto’s new API solution will turbocharge businesses globally, giving them the quickest and most efficient way to integrate local and international payments into their products. Our RESTful API has been designed with developers in mind to cut down the integration period while simultaneously allowing business owners to scale globally.”

Ola Oyetayo, CEO and Co-Founder at Verto, said: “Embedded finance is the next big thing for our industry. And embedded payments in particular are making life easier for businesses and consumers worldwide by completely streamlining the entry process, driving up customer satisfaction and unlocking new revenue opportunities for businesses. While embracing APIs is a big shift for the industry, our partners have shown great interest in this solution.”

The API solution addresses the needs of fintechs, financial institutions, payroll, HR companies, accounting, and invoice management solution providers and large enterprises.

Verto’s target market can leverage the API to access a complete financial services ecosystem, customize their own payment solutions seamlessly and create their own FX and payment flows.

Designed to minimize integration time and maximize scale, the solution provides the infrastructure that powers start-ups, enterprises and e-commerce merchants, either in mature or emerging markets.

The Verto API automates currency conversions, tracks payments and exchange rates in real-time and is being launched in the follow-up of a $10 million in Series A funding last year.

Read this next

Fintech

Meme stock lawsuit against Robinhood nears resolution

Robinhood’s legal team has reportedly informed a Miami federal court that the settlement with investors suing the company is nearing completion, with expectations for a resolution and dismissal within the next two weeks.

Web3

US arrests Yune Wang for role in 911 S5 botnet scam

A global malware network, linked to the theft of $5.9 billion in Covid relief funds and crypto crimes, has been dismantled, the Department of Justice (DOJ) announced today. The network was also involved in child exploitation, bomb threats, and various cyberattacks.

Digital Assets

US Treasury official clarifies stance on crypto mixing services

The Financial Crimes Enforcement Network (FinCEN) proposed a rule last year to classify convertible crypto mixing as a “class of transactions” with primary money laundering concerns.

Fintech

Robinhood sweetens US crypto offering with trading API

Robinhood has launched a cryptocurrency trading application programming interface (API) for users in the United States. The new API caters to seasoned crypto traders by enabling automated trading strategies, allowing users to react quickly to market movements and trends.

blockdag

After Retik Finance’s 67% Drop, Investors Turn to BlockDAG’s 30,000x ROI Potential to Recover Their Losses

Explore how BlockDAG’s $37M presale is drawing investors while Retik Finance collapses to $0.403.

Digital Assets

Terraform Labs and co-founder Do Kwon reach settlement with SEC

Terraform Labs and its co-founder Do Kwon have reached a “settlement in principle” with the U.S. Securities and Exchange Commission (SEC) regarding a fraud case, according to a court filing on Thursday.

Market News, Tech and Fundamental, Technical Analysis

FTSE 100 Index Technical Analysis Report 30 May, 2024

FTSE 100 Index can be expected to rise further toward the next resistance level 8325.00, which reversed the price earlier this month.

Chainwire

Sui and Atoma Bring the Power of AI to dApp Builders

The integration of Atoma adds new capabilities to Sui’s flourishing developer ecosystem with unique AI-querying capabilities.

<