Wise Business Launches Free Professional Invoicing Tool To Simplify Global Payments For SMBs

• 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.

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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