Xente, a licensed Ugandan-founded financial technology platform that offers business payments solutions has today announced its partnership with Visa, the global leader in digital payments to issue virtual and physical Visa business cards across businesses by enabling them make payments to online and offline vendors, disburse money, and manage business expenses.
“Managing a business and its money has become more complex; teams are distributed and remote, payments to vendors are online and global, business is digital. Our solution will help finance and accounting teams manage this complexity in a one-stop platform. We will save companies a lot of money and countless person-hours.” Allan Rwakatungu, Xente’s Founder and CEO said.
With Xente’s partnership with Visa and Ecobank, businesses and their teams can make payments for online and offline purchases, anywhere in the world, and their finance and administration teams will be able to control and monitor this spend in real-time. The Xente Visa cards will provide versatility for business, and can be used to pay online vendors, petty cash, travel, per diem, meals, reimbursements, and disbursements.
Visa’s Vice President and General Manager for East Africa, Corine Mbiaketcha said, “We believe fintechs can unlock unique opportunities for us and our clients. Such collaborations at country level will empower business owners to digitize their payments and avoid inefficiencies associated with cash and paper-based systems, whilst taking control of and effectively managing their finances and business expenses. We are confident that with Xente, we will execute remarkably in the market.”
Ecobank Uganda’s Managing Director, Grace Muliisa, said: “As Ecobank, we know financial inclusion can ultimately contribute to economic development and this collaboration to issue the Xente Visa Cards is a further demonstration of Ecobank’s commitment to provide affordable, simple and innovative solutions for corporates across Africa which is a key strategic driver towards achieving this goal.”
This partnership is a testament to Visa and Xente’s commitment to providing affordable, simple, and innovative solutions for businesses across Africa.