Zempler Bank has partnered with Wise to roll out an international payment service for small and medium-sized enterprises (SMEs) as it seeks to meet the growing demand for international transactions.

Outbound International Payments, which is available on the Zempler app, enables the digital bank’s customers to send international payments across multiple currencies.

The neobank, which currently has around 500,000 customers, said the initial launch of the service will allow users to send payments in US dollars and euros and will be available for accounts in the Single Euro Payment Area (SEPA) region.

The move comes after data from the bank showed that 43 per cent of micro-business customers are interested in using international payments, with companies completing international transactions at least once a month.

Manuel Sandhofer, general manager EMEA at Wise Platform, said that the initiative aims to help SMEs remove barriers to growth due to the hidden costs and complexity of international banking. “To succeed globally, they need financial services that truly support them and their ambitions,” he added.

Rich Wagner, chief executive at Zempler Bank said that the decision to partner with Wise was “a natural one” as many of the company’s business customers already use the platform.

 

 

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