Wise to offer its infrastructure to help fintechs issue accounts and cards
Global money transfer firm Wise, through its infrastructure offering Wise Platform, has launched new features to help other fintechs issue multi-currency accounts and digital debit cards to their customers.
Wise Platform rolls out new features in Australia
Wise Platform will be rolling out the new features in Australia initially, and has already signed up two clients – ProSpend and Parpera.
ProSpend, a business spend management platform, was looking to offer its corporate clients an alternative to cash reimbursements, corporate card programmes and a “faster, in-app option” to pay supplier invoices. With Wise, ProSpend can now offer its customers the ability to issue instant virtual debit cards and pay suppliers through a central multi-currency account.
Parpera is a business money management solution catering to sole traders. With Wise, it plans to relaunch in Australia by offering domestic sole traders and small business owners a business account, debit card and payments via its app. It plans to extend its offering to include multi-currency wallets and cross-border payments at a later stage.
“Traditional international banking solutions still don’t work well for businesses, and require them to use too many external tools from a range of providers to allow them to do what they need,” says Daniel McCarthy, commercial lead, Asia Pacific at Wise Platform.
“The release of Wise Platform’s new features brings us one step closer to solving this pain point, enabling more businesses to expand and operate internationally, without worrying about managing complex, multi-currency cash flow.”
