In a step toward enhancing global financial operations, Remitly, a digital remittance provider, has launched its International Business Payments service, announced on June 18, 2025.
This new offering expands Remitly’s portfolio beyond consumer remittances, catering specifically to businesses, freelancers, and sole proprietors seeking fast, reliable, and transparent cross-border payment solutions.
With operations in over 170 countries, Remitly’s latest product aims to simplify the complexities of international transactions, empowering businesses to pay vendors, teams, and partners worldwide with unprecedented ease.
Founded in Seattle, Remitly has been recognized for its user-friendly platform that facilitates personal money transfers for immigrants and individuals sending funds abroad.
The company’s expansion into business payments reflects its commitment to addressing the evolving needs of a globalized economy.
According to Remitly’s CEO, Matt Oppenheimer, the service is designed to tackle the challenges businesses face, such as high fees, opaque exchange rates, and delayed transfers.
“Our goal is to make international payments as seamless as domestic ones.”
Oppenheimer stated in a recent interview, emphasizing the company’s mission to drive digital transformation in cross-border payments.
The International Business Payments service offers several key features that set it apart in the competitive fintech landscape.
Businesses can set up accounts in minutes, a stark contrast to the often cumbersome onboarding processes of traditional financial institutions.
Once registered, users gain access to a platform that supports payments to over 170 countries, with options for bank deposits, mobile wallet transfers, and cash pickups in select regions.
The service prioritizes transparency, with no hidden transfer fees, ensuring businesses know exactly what they’re paying upfront.
This aligns with Remitly’s broader ethos of providing cost-effective and reliable solutions.
One of the standout aspects of this launch is its flexibility.
Remitly’s platform allows businesses to tailor payment methods to their recipients’ preferences, whether they are freelancers in the Philippines or vendors in India.
For instance, in markets where cash-based transactions dominate, recipients can collect funds at designated pickup locations, while others can opt for direct bank deposits or mobile wallet integrations.
This versatility is particularly valuable for small businesses and sole proprietors, who often lack the resources to navigate complex international payment systems.
The timing of this launch is noteworthy, given the recent regulatory developments in the remittance sector.
A proposed 3.5% excise tax on remittances in the U.S. House of Representatives had raised concerns about increased costs for cross-border transactions.
However, the Senate’s revised version of the “One Big, Beautiful Bill Act” eliminated these taxes for payments funded from U.S. accounts or cards, creating a favorable environment for digital remittance providers like Remitly.
Analysts, including those from William Blair, suggest this regulatory shift could accelerate the adoption of digital payment platforms, positioning Remitly for significant growth.
Remitly’s financial performance further underscores its potential to capitalize on this opportunity.
In Q4 2024, the company reported a 33% year-over-year revenue increase and a near doubling of adjusted EBITDA, surpassing analysts’ expectations.
With a market valuation of $3.94 billion and a customer base that has grown from under 1 million to 8 million in five years, Remitly’s operational scale and technological infrastructure provide a foundation for its business payments venture.
However, challenges remain.
Competitors like Wise and PayPal’s Xoom offer similar services, and businesses with high transaction volumes may face limitations due to Remitly’s time-based transfer caps (e.g., 24-hour, 30-day, and 180-day limits).
Despite these hurdles, Remitly’s focus on user experience, competitive pricing, and strategic partnerships with banks and digital wallets positions it as a formidable player in the global payments space.
As businesses increasingly operate across borders, Remitly’s International Business Payments service arrives as a timely solution, offering speed, reliability, and transparency.
By leveraging its established remittance expertise, Remitly is poised to redefine how businesses manage global payments, fostering greater connectivity in an interconnected world.