Wise partners G-P for faster, low-cost contractor payments

G-P (Globalization Partners), a global employment platform, and Wise, the global technology company building ways to move money around the world, have announced a partnership to power the future of how businesses pay international freelancers and contractors. Through the integration with G-P and Wise, companies will have direct access within the G-P platform to an efficient payment system that ensures fairness and pay transparency for all talent. 

Traditionally, cross-border transactions have been limited to time-consuming and manually intensive bank transfers for payment processing, providing no choice to customers or professionals. G-P Contractor will now deliver flexible payment options and a straightforward view into the entire payments process, including the mid-market exchange rate.

"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 Platform," says Nat Rajesh Natarajan, chief product and strategy officer, G-P. 

"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."

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 full transaction details and real-time payment status breakdown. These payments will save time and labour on individual invoices, ensure timely delivery of funds, provide the current FX rate, avoid inefficiencies and create a more transparent process for all involved. It also provides a significant benefit for those that don't have access to stable currencies or are experiencing rapid inflation around the globe.

"We're excited to work with G-P to provide an easy and transparent way for companies to bring on global contractors and better manage these relationships," adds Steve Naudé, Head of Wise Platform. 

"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. We look forward to working with G-P as they break down the barriers to global business."

Some of the new capabilities for G-P Contractor customers include the choice of payment method, including bank transfer, credit/debit, ACH, wire and international wire.

Contractors across 180+ countries can get paid in 50-plus currencies, including USD, AUD, GBP, SGD, CAD and EUR. There is also the provision of batch payments for invoices in the same or different currencies.

Another feature is the real-time guaranteed quotes at the time of payment, avoiding any exchange fluctuations that occur as the transaction progresses.

The new payment solution also provides transparent payment summaries for companies to see what fees they pay and the mid-market exchange rate applied. In addition, payment status updates monitor the transaction throughout the payment process; more than 50% of payments powered by Wise are instant.
 
Some of the new capabilities for G-P contractors include the choice of payout method to receive funds with multiple options, including bank transfer, virtual cards, wallets, ACH, wire and international wire. There is also the choice of 50 plus currencies for payment.

With G-P Contractor, businesses can hire contractors in 180-plus countries quickly and easily. An extension of G-P's best-in-class Global Employment Platform, this offering provides support throughout the entire lifecycle of contractors hired for both short- and long-term projects.

Wise helps people and businesses securely hold and move money in over 50 currencies and send US dollars to over 190 countries. It is further growing the offerings of the Wise platform to allow banks and businesses to embed the power of Wise into their existing platform.

The Wise platform allows partners to take advantage of one of the largest global engineering teams focused on helping move money worldwide. The team also has dedicated delivery, engineering, customer and product specialists who work collaboratively to integrate Wise APIs into partner dashboards and user interfaces seamlessly.