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 GBP, USD and EUR - 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 over £14mn worth of invoices, making their payment experience faster and more efficient.
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.
