Wise (LSE:WISE) has announced a partnership with G-P (Globalization Partners), a global employment platform. Wise will now enable the payments of freelancers and contractors around the world.
Wise is a top payments and transfers provider that is also an emerging stealth bank.
By working with G-P, companies will have direct access on the G-P platform for a streamlined and low-cost payment platform. Wise states that historically, cross-border transactions have been time-consuming and manually intensive bank transfers. G-P Contractor will now deliver the service via Wise.
Nat Rajesh Natarajan, chief product and strategy officer, G-P, explained that the partnership has created a process “unhindered by traditional financial systems,” that is, “delivering flexible payment options.”
Unlike most other options, there are no hidden fees, and there is a full breakdown of transaction details along with real-time payments. Wise tends to offer some of the best exchange rates available in the market.
“We’re excited to work with G-P to provide an easy and transparent way for companies to bring on global contractors and better manage these relationships,” said Steve Naudé, head of Wise Platform. “We’ve seen a growing need from companies to have more control over their international payments, especially to contractors, and are proud to see G-P trusting Wise to manage and power their cross-border capabilities. We look forward to working with G-P as they break down the barriers to global business.”
The process accepts ACH, Wires, bank transfers, credit/debit, etc., and contractors in 180+ countries can now accept a range of currencies including USD, EUR, GBP and more.
Wise provides real-time guaranteed quotes at the time of payment. More than 50% of payments powered by Wise are instant
The partnership may be an indication of a future strategy of partnering with global operations that may benefit by integrating with Wise as opposed to traditional banking systems which can be clunky and expensive.
