Webexpenses partners with Wise Platform

Through this collaboration, Webexpenses and Wise Platform developed a new payment service that allows businesses to manage and pay their expenses in multiple currencies directly from the Webexpenses platform. The two companies aim to enable businesses to optimise their processes, increase productivity, and maintain access to secure and reliable payments.

In addition to multi-currency payments, Webexpenses’ solution provides a range of capabilities, including increased automation, simplified approval processes, and accelerated reimbursements. As per the information detailed in the press release, by leveraging Wise, over 60% of all payments settle almost instantly, while 94% settle within 24 hours.

With the new service, both companies intend to allow businesses to increase employee satisfaction, as well as strengthen financial agility by offering finance teams improved insight into every transaction and their cash flow. Moreover, Webexpenses and Wise Platform aim to minimise errors and fees and increase transparency on the cost of every transaction, providing customers with more time to focus on their core business. According to Webexpenses’ officials, the new solution plans to eliminate complicated processes and enable businesses of all sizes to pay their expenses in one day. By partnering with Wise Platform, the company's clients can make payments directly within the Webexpenses software.

Representatives from Wise Platform stated that the collaboration enables the company to provide faster, lower-cost international payment solutions to more businesses worldwide. Considering that global expense management represents a vital component of business operations, the two companies intend to allow enterprises to process payments securely and efficiently, receive visibility over their finances, and increase productivity.

As a global technology company, Wise develops additional methods to move funds around the world. Since its launch, the company built a new cross-border payment network that intends to enable money without borders for everyone. By using the Wise Platform, financial institutions and enterprises can leverage Wise’s technology and embed payment solutions into their existing infrastructure. Currently, Wise Platform has approximately 70 partners globally and it aims to reduce the time and save funds for businesses and banks by enabling them to bring cost-effective, transparent, and convenient cross-border payments to their customers.

At the end of October 2023, Payhawk, a global spend management solution, partnered with Wise Platform to provide improved global payments to its international customer base. By working together, Payhawk launched an additional International Payments feature integrating Wise’s global payments network into its platform. This allowed Payhawk customers to reimburse employees and pay suppliers internationally in over 50 currencies in 160 countries. Furthermore, customers were enabled to leverage more cost-effective solutions for global money transfers directly from the Payhawk platform.

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