Even before the pandemic, companies have prioritized growing their global footprint to take advantage of new market opportunities. In fact, 87% of multinational companies considered their best growth opportunities to be outside of their domestic market. As a result, global trade hit a record high of nearly $30 trillion in 2021. To aid in this expansion, companies are increasingly hiring talent, whether remote or within region, to extend international reach.

Growing a business is hard enough without the added pressure of managing employees across different continents. HR leaders are being tasked with outlining processes and procedures that take into account the needs and requirements of a diverse set of employees. Between navigating complex cultural differences and communication styles, to managing time zones and operation hours, creating a healthy and cooperative work environment amongst different groups can be tough. But the challenges don’t stop there.

Scaling financial services effectively alongside business growth requires speed and precision to enter new markets. For instance, paying employees around the world can be a strenuous process that requires businesses to jump through regulation hoops during payroll. Businesses not only need to consider timing delays that can impact employee satisfaction, but also payment requirements that may vary country by country.

Until now.

4 benefits of Paysend Business for cross-border employee payments

Paysend Business can be used to eliminate burdensome international payroll processes. Through our solution, leaders can streamline the payment process in just a few easy steps that require minimal information to make instant and global payouts in-real time to all major credit and debit cards. We enable leaders to triple their payment options and provide international payroll payouts to staff’s cards, accounts and wallets through a single API integration.

Let’s take a closer look at this payment feature and its benefits.

• Global, Inclusive Reach: With Paysend Business, company leaders can pay employees in 180+ countries, including underserved countries, with local account details for the UK, Europe, and US, and multi-currency accounts in over 33+ currencies.
• Convenience: Paysend Business is compatible with Visa and Mastercard, allowing employers to offer instant payouts made directly to Visa and Mastercard cardholders globally -- eliminating the need to have and input complex bank details.
• Speed: The combined ability to reach multiple countries and make payouts directly to cards makes the payment process faster for an employer with real-time payouts.
• Low FX Rates: Paysend Business makes paying employees in another country more convenient with invoices that have low FX rates.

Want to try Paysend Business for yourself? Set up a Paysend Business account and gain access to this international market feature today.