Xente, a financial technology platform that offers business payments solutions has announced its partnership with Visa, a 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.
"We are proud to work with Visa to launch the first corporate card by a Fintech company in East and Central Africa. Managing a business and its money had 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, “ said Allan Rwakatunga, Xente's founder and CEO.
Xente's partnership with Visa and Ecobank will see businesses and their teams 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 business cards will provide versatility for business, and can be used to pay online vendors, petty cash, travel, per diem, meals, reimbursements and disbursements.
"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,” said Visa's Vice President and General Manager for East Africa, Corine Mbiaketcha
Ecobank Uganda Managing Director, Grace Muliisa applauded Xente and Visa for the initiative.
"As Ecobank, we know financial inclusion can ultimately contribute to economic development and this collaboration to issue the Xente Visa business 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 the goal."
