Spendesk, the leading spend management and procurement platform for mid-market companies, today announces its partnership with Wise Platform, Wise’s global payments infrastructure for banks and enterprises, to provide international payments.

This also builds upon Spendesk’s recent announcements of the launch of Spendesk Financial Services, Spendesk’s regulated payment institution, and its pioneering Procure-to-Pay solution. This partnership marks yet another milestone as Spendesk continues to pioneer the landscape of modern spend management, this time addressing one of the most challenging aspects of managing cross-border payments.

With this new international payments feature, Spendesk customers can now easily manage complex, multi-entity financial and cross-border operations through a single and unified dashboard. By combining spend management with fast, low-cost and transparent international payments in one cohesive solution, Spendesk eliminates inefficiencies and slow processing times that typically plague cross-border transactions, while providing real-time tracking of every payment directly from the dashboard.

Key advantages of the new capabilities include:

• Global payment reach: Customers can send invoices and expenses in 30 currencies using the mid-market exchange rate1. 

• Instant payments: Leveraging Wise's global payment infrastructure for quicker international transfers. Over 60% of Wise’s transfers are settled instantly2 (in 20 seconds or less) and 95% are completed in under one day.

• Complete payment visibility: Real-time tracking of all international payments directly from the Spendesk dashboard, providing finance teams with full control and transparency.

• Multi-entity management: Seamless handling of complex corporate structures with centralised international payment management across different business entities.

"This partnership with Wise Platform allows us to offer a comprehensive end-to-end payment solution for businesses operating worldwide," said Stéphane Dehaies, CEO of Spendesk Financial Services. "Beyond gaining the ability to manage complex multi-entity operations with complete visibility over international payments, our clients now benefit from accelerated fund receipts and significant cost savings on their transactions, reinforcing our commitment to innovation.”

Manuel Sandhofer, General Manager, EMEA at Wise Platform, commented: "We're excited to partner with Spendesk to power a fast, seamless and unified international payments experience for their customers through Wise Platform. Spendesk has a strong vision to replace complicated and bureaucratic money movement and we're thrilled to be working with them to make fast, cost-effective, transparent and easy international payments an integral part of their offering."

Spendesk will roll out the new international payments feature in the next few weeks. For more information or to request early access, please visit the waiting list.

1 The mid-market exchange rate is the midpoint between the buy and sell prices of any two currencies at any time.

2  Transaction speed claimed depends on individual circumstances and may not be available for all transactions.