Tuesday, May 21, 2024
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Wise Platform launches International Receive service

Wise Platform has launched the newest integration solution, International Receive. This will help the customer that uses International Receive to receive international payments easily and swiftly. The requirement of having a connection with SWIFT bank is not necessary. 

SWIFT has extensive paperwork which is time-consuming and requires certain resources. So it is more difficult for smaller neobanks to get connected to SWIFT. Moreover, customers find it difficult to make international payments.

The wise platform has recently launched an International Receive solution which makes it easier for neobank customers to receive international payments efficiently using their existing account details. In addition to this, financial institutions which already have a SWIFT account can switch to Wise’s service to make their payments more swiftly and easily. 

 Head of Product of Wise Platform Steve Naudé, said:

“Wise Platform’s International Receive service benefits all banks, whether they’re a centuries-old institution or a nascent neobank. Established banks have long been connected to SWIFT, but many newer banks are unable to commit the resources required to join it. This service helps both. It allows established banks to benefit from Wise Platform’s speed and affordability, while it gives neobanks an easy route to enabling customers to receive money from abroad. The integration can be done in a matter of weeks and with minimal effort for our partners – we’re hugely excited by its potential and what it means for customers.”

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