- Payhawk has launched a new International Payments feature, enabling their customers to make transfers in + 50 currencies across more than 160 countries directly from the platform
- This solidifies Payhawk’s position as a one-stop shop for spend management, providing a single platform to manage all card, reimbursement, and invoice payments
- Payhawk has partnered with Wise Platform to integrate fast, low-cost international payment services directly into the Payhawk platform
Today, Payhawk, the global spend management solution, announces a new International Payments feature in partnership with Wise Platform (1). By seamlessly integrating the power of Wise’s global payments network into the Payhawk platform, Payhawk customers can now easily reimburse employees and pay suppliers internationally in +50 currencies in more than 160 countries.
Previously, businesses have had two choices to manage international payments: transfer services or banks. The wire transfer solution offered by banks often has an unsatisfactory user experience, is slow to transfer money and has high and opaque costs. Wire transfers typically arrive within 1-5 business days (2), can cost up to £30 per transaction (3), and fees are not broken down upfront.
More recently, fintechs like Wise have offered a faster and far more cost-effective solution to global money transfers, helping users save up to five times more (4) when compared with using some banks and other financial institutions and providing faster payment delivery, with 55% of transfers delivered instantly and 93% within 24 hours (5).
The Wise Platform integration into Payhawk means Payhawk customers can leverage these benefits directly from the Payhawk platform to pay suppliers with a single click, irrespective of their currency and location. With Payhawk, businesses benefit from an end-to-end Accounts Payable solution, including approval workflows to help control spending, AI-powered data extraction, and native integrations with accounting software to automate manual processes. Finance teams can now use a single tool to cost-effectively and efficiently manage the end-to-end lifecycle of their global business expenses.
Hristo Borisov, CEO and Co-Founder of Payhawk, says, “We learned from our customer base that there was a growing need for fast, cost-effective, and secure global payments. As a result of our new feature, our customers can now effortlessly manage and pay all global payments within a single platform, creating greater efficiency and control over their global spending.”
Steve Naudé, Managing Director of Wise Platform, says, “We’re proud to partner with Payhawk to provide businesses with a seamless international payment experience. In today’s global economy, there is a growing need for businesses to make international payments in multiple currencies to multiple locations quickly and at a low cost. By integrating Wise Platform directly within the Payhawk platform, Payhawk customers will be empowered with enhanced payment capabilities that suit their business needs."
Payhawk is a leading spend management solution for domestic and international businesses throughout Europe, the US, and the UK. Combining company cards, reimbursable expenses, accounts payable, and seamless accounting software integrations into a single product, Payhawk makes business payments easy — for everyone. Payhawk helps customers in over 32 countries to maximise efficiency, control spending at scale, and stay agile. With offices in London, Berlin, Barcelona, Paris, Amsterdam, Vilnius, Sofia, and New York, Payhawk’s diverse customer base includes top names like LuxAir, Babbel, Vinted, Wallbox and Wagestream.
Find out more about Payhawk: https://payhawk.com/
Wise is a global technology company, building the best way to move money around the world. Over the last decade, Wise has built an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere.
Thanks to Wise Platform, financial institutions and major enterprises can leverage Wise’s technology and embed the best way to send, receive, and manage money internationally into their existing infrastructure. With over 70 partners worldwide, Wise Platform saves banks and businesses time and money by allowing them to seamlessly bring fast, cheap, transparent and convenient cross-border payments to their customers.
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 50 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.
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