Instant Card Transfer allows companies to make payment to the contractors’ bank account. Credit: Deel.

Deel, a global payroll and compliance solution provider, has launched Instant Card Transfer to make contractor payments faster and simpler.

The company collaborated with UK-based fintech Paysend for its latest feature.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Instant Card Transfer will allow contractors in certain countries to get paid immediately and directly to their bank accounts using their Mastercard or Visa cards.

For this, the contractors need to provide their complete name and bank card number to the businesses.

Deel noted that 90% of the transfers will arrive within 15 seconds.

Initially, contractors in Georgia, Ukraine, Belarus, the Philippines, the Dominican Republic, Honduras, and Kazakhstan, where the currency exchange and international payments are often said to take longer than usual, will be able to access the new feature.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Deel also plans to extend the new payment method to more contractors across the world.

Deel COO Dan Westgarth said: “Hiring globally shouldn’t come with limitations, and that means it shouldn’t be difficult to pay contractors in certain countries.

“We’re really excited to enhance Deel’s contractor experience by providing instant and reliable transfers, particularly in this new world of cross-border work.

“We are thrilled to be able to partner with Paysend. It’s an important milestone in helping businesses hire anyone, anywhere.”

The quick payment solution aims to “level the playing field” when it comes to hiring and paying across the globe, noted Deel.

This has been developed targeting the contractors working with international companies, who often struggle with slow and legacy cross-border payment solutions.

Using the instant card transfer, companies can now make payments right to the contractors’ bank account.