- New invoicing tool enables businesses to create
invoices, receive payments faster and automate
reconciliation - Last financial year, more than
600,000 businesses used Wise Business, marking a 20%
year-on-year increase
Auckland, 24
October 2024 – Wise Business, the international
business account for going global, has announced the launch
of a brand new invoicing feature. The free-to-use service
simplifies the process of generating invoices, making and
receiving payments, and tracking finances — all within the
Wise Business account.
Designed with smaller
businesses in mind, the service is available free of charge
to Wise Business customers, and offers users the ability
to:
- Create and issue professional, well-formatted
invoices – which can be automatically issued via
email - Automatically reconcile payments without
hassle, with invoices seamlessly integrated into the Wise
Business account - Track an invoice’s status to see
what’s paid or overdue - Issue invoices in multiple
currencies – including the Australian dollar, Chinese yuan
and American dollar – and receive payments free of inflated
exchange rates and hidden fees - Attach payment
methods, allowing clients to pay quick and securely – a “Pay
with Wise” option provides the cheapest, fastest experience
for users whose customers also use
Wise
After an initial beta phase and
full roll out in September, the new invoicing tool has
already helped businesses process close to NZD$30 million
worth of invoices, making their payment experience faster
and more efficient.
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Wise has a growing
presence in New Zealand, with 6% of the population now using
the service across Personal and Business
products.
Akshay Menon, Product Manager at
Wise, said: “Invoicing is an essential yet often
dreaded part of running a business. Existing providers
don’t meet the specific needs of small businesses and sole
traders, forcing them to rely on expensive accounting
software, or manually maintained
spreadsheets.
“We’ve built this new feature to
take the pain out of invoicing, and to make getting paid as
simple as possible. With Wise, businesses can now create and
send invoices in just a few clicks, and the payments flow
seamlessly — saving them time and effort, all while using
the real exchange rate. Best of all, it’s
free.”
Wise Business serves 600,000+
customers
This launch further amplifies the growing
success of Wise Business, which has surpassed 600,000 active
customers – marking a 20% year-on-year increase over last
financial year. Wise Business helps small and medium-sized
businesses across the world go global from day one. It
enables users to hold and send money in over 40+ currencies
to 160+ countries, with account details in 9+ currencies.
Other features include employee expense cards, batch
payments, and integrations with major account platforms,
like Xero and QuickBooks.
Users can also earn a return
on GBP, USD and EUR thanks to ‘Wise Interest’, an
optional tool that invests balances in BlackRock-managed
money market instruments.
About Wise
Wise is a
global technology company, building the best way to move and
manage the world’s money.
With Wise Account and Wise
Business, people and businesses can hold 40 currencies, move
money between countries and spend money abroad. Large
companies and banks use Wise technology too; an entirely new
network for the world’s money. One of the world’s fastest
growing, profitable tech companies, Wise launched in 2011
and is listed on the London Stock Exchange under the ticker,
WISE.
In fiscal year 2024, Wise supported around 12.8
million people and businesses, processing approximately
£118.5 billion in cross-border transactions, and saving
customers over £1.8
billion.
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