Wise collaborated with the global employment platform G-P to deliver flexible payment options for businesses that work with international freelancers and contractors
Cross-border money transfer provider Wise has developed a partnership with a global employment platform G-P (Globalization Partners) to simplify how businesses pay freelancers and contractors from abroad.
Via the new integration, G-P partner companies will have direct access to a new payment system that ensures fairness and pay transparency within the employment platform. With Wise’s multi-currency payment solution, employers will get a straightforward view of the entire payment process — including the mid-market exchange rate.
Besides, the absence of hidden transaction fees will offer businesses more control and autonomy over their international payments. They can customise the time, frequency, and currency of the scheduled salary and contract payments, to see a full breakdown of transaction details and real-time payment status.
Furthermore, the solution automates cross-border business transactions, saving time and labour typically spent on individual invoices. The integration will ensure the timely delivery of funds and provide tracking of the current FX rate, helping business owners and managers to avoid inefficiencies and create a more transparent process for all those involved.
The two companies believe the solution will also benefit those global contractors and businesses that don’t have access to stable currencies or are experiencing rapid inflation.
Wise helps people and businesses securely hold and move money in over 50 currencies and send USD to over 190 countries. Its proprietary Wise Platform allows partner banks and businesses to embed the transparent cross-border payment solution into their existing platforms. The solution has recently embedded the International Receive feature, which makes it easier for banks to efficiently and reliably receive international payments through the Swift network.
In 2022, the fintech launched 15 new partnerships to enter the new year with a total of 60 partners globally. Almost 10 million new customers gained access to Wise via the Wise Platform last year.