Lili, the financial platform designed for small business owners, today announced the launch of international wire payments in 27 countries, empowering small business owners to grow beyond borders.
While larger businesses typically have the infrastructure to process complex payments like cross-border wire transfers, many small businesses do not. According to FXC Intelligence, the cross-border payments industry reached a market size of $190.1 trillion in 2023 and is expected to increase by 53% by 2030. As more small businesses engage in global trade, accessible payment solutions are crucial for them to compete alongside larger firms.
Lili’s international wire payments solution will enable its small business customers to both receive and send international payments in dozens of countries across North America, Europe, and Asia, helping them manage their operations and grow their businesses internationally. With unlimited inbound transfers, high outbound transaction limits, enhanced security, and competitive pricing, this product also gives Lili’s small business customers the option to pay and get paid via wire transfer as quickly as 24 hours later. Through Lili’s integrated Bill Pay solution, international payment details are automatically organized through Lili’s platform — fostering stronger vendor relationships and allowing small business owners to see the full picture of their businesses’ finances.
“Through international payments, small business owners will have the flexibility to connect with more vendors and customers abroad, helping them both innovate their offerings and expand their base of clients,” said Lilac Bar David, co-founder and Chief Executive Officer of Lili. ”Lili’s customers now have a quick and cost effective way of streamlining payments to help them better compete in today’s global marketplace.”
Lili plans to expand its list of eligible countries later this year.