Wise and G-P have announced a strategic partnership built on a fintech integration targeting global contractor payments ecosystem. The new partnership provides customers with autonomy; enabling payments in the most countries and currencies at the time, frequency and currency of their choice.
G-P (Globalization Partners and Wise will power the future of how businesses pay international freelancers and contractors.
New Integration Designed to Ensure Fairness and Transparency for Global Contractor Payments
Through the integration with G-P and Wise, companies will have direct access within the G-P platform to an efficient payment system that ensures fairness and pay transparency for all talent. Traditionally, cross-border transactions have been limited to time-consuming and manually intensive bank transfers for payment processing, providing no choice to customers or professionals. G-P Contractor will now deliver flexible payment options and a straightforward view into the entire payments process — including the mid-market exchange rate.
Recommended: Global Fintech Interview with Ksenia Yudina, CFA, Founder and CEO at UNest
“Together with Wise we are creating a world that is unhindered by traditional financial systems, providing customers and contractors an ethical and transparent employment and payment process for all talent through our Global Employment Platform,” said Nat Rajesh Natarajan, chief product and strategy officer, G-P.
New capabilities for G-P Contractor customers include:
- Choice of payment method, including bank transfer, credit/debit, ACH, Wire and International Wire
- Contractors across 180+ countries can now get paid in 50+ currencies including: USD, AUD, GBP, SGD, CAD and EUR
- Batch payments for invoices in the same or different currencies
- Real-time guaranteed quotes at the time of payment — avoiding any exchange fluctuations that occur as the transaction progresses
- Transparent payment summaries for companies to see exactly what fees they pay — nothing is hidden — and the mid-market exchange rate being applied
- Payment status updates to monitor the transaction throughout the payment process; more than 50% of payments powered by Wise are instant
New capabilities for G-P contractors include:
- Choice of payout method to receive funds with multiple options, including: bank transfer, virtual cards, wallets, ACH, Wire and International Wire
- Choice of 50+ currencies for payment
Nat added, “At G-P, our mission is to create a borderless and equitable world of work. Delivering flexible payment options is critical to delivering on that mission and meeting the needs of today’s professionals.”
Unlike other solutions, there are no hidden transaction fees — giving businesses more control and autonomy over their international payments. They can choose the time, frequency and currency of payments, and will see a full breakdown of transaction details and real-time payment status. These payments will save time and labor on individual invoices, ensure timely delivery of funds, provide the current FX rate, avoid inefficiencies and create a more transparent process for all involved. It also provides a significant benefit for those that don’t have access to stable currencies or are experiencing rapid inflation around the globe.
Fintech News: Business Warrior Partners with Sunshine State Financial to Deliver Powerful Auto Loan Financing Solution
“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.
Steve added, “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.”
With G-P Contractor, businesses can hire contractors in 180+ countries, quickly and easily. An extension of G-P’s best-in-class Global Employment Platform™, this offering provides support throughout the entire lifecycle of contractors hired for both short- and long-term projects.
Wise helps people and businesses securely hold and move money in over 50 currencies and send USD to over 190 countries. It is further growing the offerings of Wise Platform to allow banks and businesses to embed the power of Wise into their existing platform.
The Wise Platform allows partners to take advantage of one of the largest global engineering teams focused on helping move money around the world. The team also has dedicated delivery, engineering, customer and product specialists who work collaboratively to seamlessly integrate the Wise APIs into partner dashboards and user interfaces.
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.
15 million people and businesses use Wise globally, which processes over £9 billion in cross-border transactions every month, saving customers over £1 billion a year.
G-P is the leading Global Employment Platform ™ that empowers organizations to expand globally and hire talent quickly and compliantly in 180+ countries without navigating legal, tax or HR issues. As the industry pioneer and recognized leader, G-P’s SaaS-based platform accelerates international growth for thousands of customers.
