Wise offers a multi‑currency account and debit card that enable individuals and businesses to hold, convert, and transfer funds in over 40 currencies at the real‑time mid‑market exchange rate with transparent, upfront fees. The platform provides instant transfers to 140+ countries, batch‑payment APIs, and pre‑built accounting integrations, allowing fast, low‑cost cross‑border payments and embeddable payment capabilities for enterprises.
Funding
Funding not disclosed
Founders
Product
Problem
Cross‑border payments often involve opaque fees, marked‑up exchange rates, and slow settlement times, making it difficult for individuals and businesses to move money efficiently and predictably across multiple currencies.
Solution
Wise offers a unified international account that lets users hold, convert, and transact in over 40 currencies at the real‑time mid‑market exchange rate with transparent, upfront fees. A web‑ and mobile‑based platform provides instant transfers to 140+ countries, with most payments arriving within seconds and 95 % settled within 24 hours. The service includes a multi‑currency debit card that automatically selects the optimal currency for each purchase, eliminating foreign‑transaction fees. For businesses, Wise supplies batch‑payment tools, automated invoicing, and direct integrations with popular accounting systems via a RESTful API. All transactions are secured with industry‑standard encryption, KYC/AML compliance, and segregated custodial accounts. The platform also offers an enterprise‑grade “Wise Platform” that enables banks and fintechs to embed cross‑border payment capabilities into their own products.
Target Audience
Primary users are expatriates, freelancers, and SMEs that need low‑cost, fast cross‑border payments, as well as larger enterprises, marketplaces, and financial institutions seeking to embed multi‑currency payment flows via Wise’s API platform.
Features
- Real‑time currency conversion at the mid‑market rate with fee disclosure before execution
- Multi‑currency account numbers (IBAN, SWIFT/BIC) for 21+ base currencies, enabling local‑level receiving and sending
- Wise Multi‑Currency Debit Card with automatic currency selection and no foreign‑transaction surcharge
- Batch‑transfer and bulk‑payment API supporting JSON payloads, webhook notifications, and OAuth 2.0 authentication
- Pre‑built connectors for Xero, QuickBooks, and NetSuite to automate reconciliation and cash‑flow reporting
- PCI‑DSS compliant card issuance and end‑to‑end TLS encryption for data in transit and at rest
- Integrated compliance engine performing real‑time KYC, AML screening, and transaction monitoring across jurisdictions
- Dashboard analytics with real‑time FX exposure, settlement status, and customizable alerts