Wise Platform and Globalization Partners: Bringing transparency and flexibility to the global workforce

Problem

Getting paid on time and the right amount has long been the biggest downside of flexible work for freelancers or contractors. Often it is the contractors themselves who must demonstrate flexibility in receiving payments and chasing late invoices. This has created an unfair working dynamic along with cash flow issues for self-employed workers.

In addition, paying contractor invoices is usually a time-consuming task for businesses that’s prone to delay and errors, especially when it comes to international payments.

The pandemic brought seismic change to the global workforce, with remote work opening up a world of freelance and temporary contractors to fill skills gaps while companies rushed to solve a shortage of top talent. And when contractor and freelancer skills are in high demand - and they can choose to work from anywhere - it’s essential that companies are able to provide payment reliably and in the currency and method of the worker’s choosing.

Paying contractor invoices is usually a time-consuming task, prone to delay and errors, especially when it comes to international payments.

But companies are still facing unclear exchange rates and hidden fees on international transfers. This leaves them in the dark about how much their contractor is likely to receive after their payment has crossed borders, while leaving contractors out of pocket, damaging critical business relationships in the process.

Learn more about Wise Platform

Solution

As the pioneer and recognized leader of the global employment industry, G-P helps businesses to build and manage teams quickly and compliantly in 180+ countries without navigating legal, tax or HR issues. G-P has teamed up with Wise Platform - the company building the best way to send, receive, and manage money internationally- to redefine employment and payment processes and help enable employment opportunities for everyone, everywhere.

The integration embeds the power of Wise directly into the G-P Meridian Contractor platform via API and offers contractors better, faster, and more transparent ways to get paid when and how it suits them, in more than 50 currencies.

“Together with Wise, we are creating a world that is unhindered by traditional financial systems, providing customers and contractors an ethical and transparent employment and payment process for all talent through our Global Employment PlatformTM,” said Nat Rajesh Natarajan, Chief Product and Strategy Officer, G-P.

Unlike other solutions, there are no hidden transaction fees — giving businesses more control and autonomy over their international payments. They can choose the time, frequency and currency of payments, and will see a full breakdown of transaction details and real-time payment status.

“At G-P, our mission is to create a borderless and equitable world of work. Delivering flexible payment options is critical to delivering on that mission and meeting the needs of today’s professionals.”

Integration

The integration prioritised solving two key challenges for businesses in paying their global workforce: transparency and flexibility.

Here’s how Wise and G-P are delivering.

Transparency

Companies using G-P Meridian Contractor can now access transparent payment summaries to see exactly what fees they are paying - nothing is hidden - and with the true mid-market exchange rate applied.

And for added visibility, using Wise’s payment rails means G-P users can see payment status updates to monitor the transaction throughout the payment process, providing peace of mind for the company and their contractor.
Not only are Wise payments transparent, they’re fast.

More than 50 per cent of global payments powered by Wise are instant*, meaning they are in less than 20 seconds, cutting the waiting time for contractors to receive payment and freeing up cash flow.

“At G-P, our mission is to create a borderless and equitable world of work. Delivering flexible payment options is critical to delivering on that mission and meeting the needs of today’s professionals.”
— Nat Rajesh Natarajan, Chief Product and Strategy Officer, G-P

Flexibility

Wise Platform was built to open up fast, transparent and affordable international payments to banks and companies around the world, by allowing them to embed our international payments infrastructure seamlessly via API.

By integrating the power of Wise directly into the G-P platform, contractors in 180 countries can now get paid in 50+ currencies, including USD, AUD, GBP, SGD, CAD, and EUR.

“We’ve seen a growing need from companies to have more control over their international payments, especially to contractors, and are proud to see G-P trusting Wise to manage and power their cross-border capabilities.” - Steve Naudé, Head of Wise Platform

And what’s more, the integration means that contractors now have more control over when and how they get paid. Businesses using G-P Meridian Contractor are able to offer freelancers and contractors a choice of payment methods, including bank transfer, credit/debit, ACH, Wire, and International Wire.

Wise Platform also supports batch payments for invoices in the same or different currencies and real-time guaranteed quotes at the time of payment — avoiding exchange rate fluctuations.

Reflecting on the integration, Steve Naudé, Head of Wise Platform said: “It’s great to be working with G-P to provide an easy and transparent way for companies to bring on global contractors and better manage these relationships.”

Learn more about Wise Platform

*Disclaimer: The speed of transaction claim depends on individual circumstances and may not be available for all transactions