Qonto Announces Partnership With Wise Platform to Bring Faster, Cheaper and More Convenient International Payments to Its Customers

Qonto, the leading European business finance solution for SMEs and freelancers, announces today two new features which reinforce its commitment to offer the best business banking solution to its 500,000 customers.

The first is a new strategic partnership with Wise Platform, Wise’s market-leading global infrastructure for banks and enterprises, to further enhance Qonto’s cross-border payment capabilities. The second is the upcoming SEPA Direct Debit collection feature launch, enabling Qonto customers to get paid on time and centralising all incoming payments in the Qonto app.

Wise Platform partnership enables fast, low-cost and transparent payments to more than 130 countries

With the integration of Wise Platform, Qonto’s customers will now be able to pay their partners faster, in more countries, and with a more transparent and reliable platform. Key features of the integration include:

• Facilitate international business: Customers will be able to expand their global reach by sending payments to more than 130 countries, a significant increase from the previous 58, and in 24 different currencies.
• Faster payments: Over 60% of Wise’s transfers are settled instantly (in 20 seconds or less) and 95% are completed in under one day.
• Enhanced visibility: With clear, accurate payment tracking, customers will get an improved visibility over their international payments enabling a better user experience.
• Low-cost: Customers will benefit from low-cost international transfers as Wise charges a transparent upfront fee and applies the mid-market exchange rate1 with no hidden fees.

A new way to get paid on time with SEPA Direct Debit collection

Going one step further, Qonto also announces its upcoming SDD collection function to enable clients to get paid easily and in real-time. Concretely, starting July, Qonto customers will be able to trigger SEPA Direct Debits directly in their Qonto accounts or through EBICS integration.

“Our mission is to make business finance management effortless for European SMEs and freelancers. With the integration with Wise Platform and the upcoming launch of SDD collection, we’re significantly improving our existing payment offer for our customers. We’re now able to better support our existing customers by offering faster, more transparent transactions as well as fair pricing and timely payments with their international business partners. Additionally, this partnership allows Qonto to welcome new customers, enabling them to utilise our daily business banking services across multiple markets and currencies,” said Theresa Gschwandtner, Head of Product Marketing at Qonto.

Steve Naudé, Global Managing Director of Wise Platform, commented: “We’re thrilled with this new step in our collaboration with Qonto to deliver a seamless international payment experience to SMEs and freelancers across Europe. In addition to leveraging Wise Platform to receive payments from abroad,Qonto’s customers can now benefit from the best-in-class experience to pay their partners all over the world and fulfil their international ambitions”.