Xente, one of the recently licensed Ugandan-founded fintech platforms that offers business payment solutions announced its partnership with Visa.
The partnership with Visa will enable Xente to issue virtual and physical Visa business cards across businesses by enabling them to make payments to online and offline vendors, disburse money, and manage business expenses.
This service places Xente above other Fintechs in Uganda whose previous virtual card providers cut down access to most African countries.
Supporting the partnership of Xente and Visa is Ecobank which will enable businesses and their partners 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 spending 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.
All this took place at an event at MOTIV which was graced by Allan Rwakatungu, Xente’s Founder, Ecobank Uganda’s Managing Director, Grace Muliisa, and Minister of State for National Guidance, Ministry of ICT & National Guidance – Hon. Godfrey Kabbyanga.
“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.
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.
Getting a Xente Visa card is as simple as downloading the app and following the prompts.