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The feature will cut out 80 per cent of admin required for employers to finalise their payroll payments, the companies say.
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Wise Platform launches expedited payment system with Deel
17 November 2022
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International fund transfer business Wise Platform has launched an accelerated payment feature with global HR and payroll company Deel.
The feature allowed employers to pay workers through Deel using an email address, eliminating the need to provide the recipient’s account and address details, said Wise Platform.
This cut 80 per cent of the administration and significantly reduced the time it took to run payroll.
The partnership would also add 10 currencies to Deel’s payment infrastructure, simplifying global payroll for over 10,000 customers, according to Wise Platform.
“Our partnership with Wise has helped businesses across the world, including many based in Australia and New Zealand, grow and manage their teams,” said Shannon Karaka, Deel country leader, Australia and New Zealand.
“This new feature helps make this a quicker, simpler task and allows even more Deel customers to use their local currency and local payment system.”
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Previously, customers using Deel in certain markets needed to fund payroll by sending a US dollar or Euro international Swift transfer from their bank, which could be expensive, slow, and inefficient, said Wise Platform.
“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,” said Steve Naude, head of Wise Platform.
“This is among the best examples of how, when we work together, we can build a world of money without borders.”
The 10 new currencies that have been added are:
- Bulgarian lev
- Swiss franc
- Czech koruna
- Danish krone
- Japanese yen
- Malaysian ringgit
- Norwegian krone
- Polish zloty
- Romanian leu
- Swedish krona
Deel is a global payroll platform that helps businesses hire anyone, anywhere, through using a tech-enabled self-serve process. It serves over 10,000 customers from SMEs to publicly traded companies.
Wise is a global payment infrastructure providing an easier way to move money around the world and between currencies, and Wise Platform now provides the same ease but for businesses.
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