International money transfer company TransferWise joins hands with British freelance payments platform Paydesk to offer more efficient payments services to freelance workers.

The business integration would allow more freelancers across the world to access the benefits of Paydesk features: immediate insurance, speedy payments for work done, etc. Beyond quicker and simpler payments, the business collaboration would allow users to pay lower fees and receive the real exchange rate from overseas payments.

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The freelance community would welcome these improvements. For payments in the field are notoriously slow and complicated. Duplication of invoices and 90-day settlement terms are frequent sources of anxiety for freelancers.

More than 6,000 freelancers affected worldwide

Paydesk’s has a growing community of over 6,000 freelancers worldwide. With the help of TransferWise fast-speed API, the freelancers can receive payments without speaking to their banks. This service can be accessed 24 hours a day, via any device.

The more efficient services expected from the partnership will also benefit media companies. With speedier and more reliable payments, they will be able to develop better working relationships with the freelance community. This would in turn encourage repeat business.

As a result of the partnership, Paydesk says it expects to create new users quickly and securely, expanding the volumes of its business.

“Paydesk’s ambition is to let freelancers anywhere in the world withdraw funds whenever they can—without waiting weeks or months for invoices to be processed,” said Henry Peirse, CEO and founder of Paydesk.

Financial control and flexibility for freelancers

He said TransferWise is the best service for his company to realise this ambition. “Our mutual focus on simplicity and speed creates great synergy, the benefits of which we hope to deliver to our freelance community.”

Peirse added that freelancers need financial control and flexibility urgently. “So the market opportunity is huge. We hope our fintechs and providers are inspired to join us in harnessing their expertise to improve the lives of these hardworking professionals and remove the pain points from freelance payments.”

Alastair Thompson, TransferWise’s global head of business partnership, said:

“Paydesk shares our vision for bringing fairness, convenience and transparency to people all over the world. So we knew this partnership would be a perfect fit. By plugging into TransferWise’s API, Paydesk is enabling more workers globally to benefit from frictionless payments, wherever they are.”