Global payment platform makes paying staff "faster and cheaper" via new partnership

London based global payment infrastructure specialist Wise Platform has launched a new service with San Francisco based 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 SMEs 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 payments.

From today, customers will be able to send funds via Deel using a simple email address, eliminating 80 per cent 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.

Dan Westgarth, chief operating officer at Deel, commented: “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.”

Steve Naude, head of Wise Platform, added: “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.”

By Matthew Neville – Correspondent, Bdaily