Wise and Deel increase payment speed with new feature

The new 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 SMBs to publicly traded companies.

Paying employees more easily

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 their payments, including selecting a currency, adding account details, account type, and address information.

Through this partnership customers will be able to send funds via Deel using a simple email address, eliminating 80% 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.

Increased capabilities for managing global payrolls

Officials from Deel stated that Wise’s new feature allows even more Deel customers to use their local currency and local payment system, expanding their capabilities and bringing the Wise experience to more businesses around the world. This is beneficial for their customers, who choose Deel to make hiring, onboarding, and executing payroll for overseas employees a breeze.

Also commenting on the new development, representatives from Wise said that 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. 

Wise Platform works with over 50 banks and businesses to integrate the power of Wise into their existing infrastructure, meaning they can embed an augmented way to send, receive, and manage money internationally.