Payhawk partners with Wise Platform

Wednesday 25 October 2023 08:00 CET | News

Global spend management solution Payhawk has partnered with Wise Platform to offer enhanced global payments to its international customer base. 

Through this collaboration, Payhawk launched a new International Payments feature integrating Wise’s global payments network into its platform. Payhawk customers are now able to reimburse employees and pay suppliers internationally in over 50 currencies in 160 countries. 

Global spend management solution Payhawk has partnered with Wise Platform to offer enhanced global payments to its international customer base.

The partnership’s objective and capabilities

With this integration, customers can leverage more cost-effective solutions for global money transfers directly from the Payhawk platform, being able to pay suppliers conveniently, irrespective of their currency or location. Payhawk provides businesses with an end-to-end Accounts Payable solution, including approval workflows to control spending, AI-powered data extraction, and native integrations with accounting software to automate manual processes. The two companies aim to offer finance teams a single tool to efficiently manage the end-to-end lifecycle of their global business expenses.

According to Payhawk’s officials, the company introduced this new feature based on feedback received from its customer base requiring faster, cost-effective, and secure global payments. With the International Payments capability, Payhawk aims to allow customers to easily manage and complete all global payments within a single platform, creating improved effectiveness and control over their spending.

Representatives from Wise Platform stated that the partnership’s objective is to provide businesses with a simplified international payment experience. Considering the current global economy, businesses require the ability to make international payments in multiple currencies to various locations. The integration aims to enable Payhawk customers to receive enhanced payment capabilities that suit their business needs and requirements.

Past developments from Payhawk

At the beginning of September 2023, Payhawk partnered with Lune to launch the Payhawk Green solution, aiming to improve companies' sustainable decisions related to spending. Payhawk Green was developed as a set of platform features that enable companies to comply with new UK and EU legislation, as well as to pursue internal sustainability initiatives.

In August 2023, Payhawk partnered with Open Banking provider Yapily to develop an instant payment experience for finance teams when upgrading their Payhawk wallets. Through this collaboration, the company aims to simplify the payment process by removing manual payment steps that could cause user friction and lead to unnecessary cash flow uncertainty for businesses.

Moreover, in July 2023, Payhawk launched in Lithuania and opened a new local office in Vilnius, aiming to provide its solutions in the region. The company planned to hire a team of finance professionals to accelerate its product development and overall expansion in the local market.  

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: cross-border payments, money transfer, partnership, product launch, online platform
Categories: Payments & Commerce
Companies: Payhawk, Wise
Countries: World
This article is part of category

Payments & Commerce




Discover all the Company news on Payhawk and other articles related to Payhawk in The Paypers News, Reports, and insights on the payments and fintech industry: