Zempler Bank, a digital bank serving start-ups and microbusinesses, has today announced the launch of its new Outbound International Payments service in partnership with Wise Platform to meet growing customer appetite for overseas expansion.
This new offering allows more than 500,000 Zempler customers to send international payments in multiple currencies with ease and security.
The initial rollout of the service will enable Zempler’s customers to send payments to both US Dollar (USD) denominated accounts in the US and to Euro (EUR) accounts in the SEPA region.
Business customers can now send international payments directly from the Zempler app, with plans to expand into desktop-based online banking shortly after launch.
The partnership follows recent research conducted by Zempler showing 43% of microbusiness customers indicating they would send and receive international payments with Zempler Bank if they could. Notably, over half of the business owners surveyed make international payments at least once a month, with nearly a third sending between £1,000 and £10,000.
Rich Wagner, CEO, Zempler Bank: “We know that the launch of Outbound International Payments will be a popular benefit for many of our customers, particularly the ambitious small businesses looking to develop relationships with overseas suppliers and partners. We understand that even the smallest businesses might want or need to work internationally, whether that’s importing a key product or component or outsourcing a task to an overseas expert. Many of our business customers are already using Wise, so it was a natural choice to partner with them to integrate that familiar functionality within our own simple to use banking app.”
Manuel Sandhofer, General Manager, EMEA, Wise Platform:
“At Wise, we’re committed to making international payments faster, cheaper, and more transparent for people and businesses of all sizes. For too long, SMBs have faced 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. That’s why we’re excited to partner with Zempler Bank, enabling seamless cross-border payments that help businesses expand with ease and confidence globally.