New feature adds 10 new currency routes and slashes 80% of admin required for employers to execute a payment with Deel
14 November 2022 - Wise Platform has launched a new service with leading global HR and payroll company, Deel. The feature enables customers to send funds via Deel using just an email address, opening up 10 new currencies in Deel’s payments infrastructure and further simplifying global payroll for over 10,000 Deel customers - from SMBs to publicly traded companies.
To date, customers using Deel in certain markets would have had to fund payroll by sending a USD or EUR international SWIFT transfer from their bank, which can be expensive, slow and inefficient. They would also have had to input a large amount of employee information in order to initiate their payments, including selecting a currency, adding account details, account type, and address information.
From today, customers will be able to send funds via Deel using a simple email address, eliminating 80% of these steps and significantly reducing the time it takes to pay employees. With this new feature, Deel’s customers will be able to fund payments using 19 local currencies through their linked Wise account, meaning that more people can get paid in the currency that works best for them. In turn, customers will benefit from a faster, cheaper and more efficient service.
Deel has been a Wise Platform partner since 2019. Wise currently helps Deel pay people in over 150 countries quickly and conveniently. With this latest announcement, Deel's customers can now pay their employees more easily in 19 currencies.
“Wise’s new feature allows even more Deel customers to use their local currency and local payment system, expanding our capabilities and bringing the Wise experience to more businesses around the world. This is massively beneficial for our customers, who choose Deel to make hiring, onboarding, and executing payroll for overseas employees a breeze.”
“This new, more streamlined deposit flow will further transform the experience of managing global payroll for Deel’s customers, allowing employers to compensate their team instantly and conveniently in a currency that makes sense for them. This is among the best examples of how, when we work together, we can build a world of money without borders.”
About Wise
Wise is a global technology company, building the best way to move money around the world. With the Wise account people and businesses can hold over 40 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere. However you use the platform, Wise is on a mission to make your life easier and save you money.
Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world’s fastest growing, profitable technology companies and is listed on the London Stock Exchange under the ticker, WISE.
16 million people and businesses use Wise globally, which processes £9 billion in cross-border transactions every month, saving customers around £1.5 billion a year.