Written by: Erik Edin
Product manager at TransferWise
The TransferWise mission is to make money borderless. That means it should be fast, easy and eventually free to send money anywhere. Every team in TransferWise makes their own contribution to this mission.
In my team, we measure our success by how easy TransferWise is to use for other fast growing businesses who are in need of global payouts. We want to make sure it's easy for businesses to manage all of their payouts on our platform.
By making TransferWise work for fast-growing businesses, we can grow the total number of payments we send around the world, which in turn means lower cost for all of our customers. If you're interested in how growth helps us drop prices, you can read our post about why TransferWise has fees, here.
In the past months, we've made the batch payments tool better in a number of ways. We also started building multi-user access.
Batch payments is a tool you can use to pay hundreds of employees - or suppliers - in one go, from a spreadsheet. We've made some improvements under the hood, which will make the tool faster and more reliable.
We’ve also added some new features to make batch payments easier to use:
- Send money with only an email address, and we'll collect the bank details of the recipient for you.
- A new review step that displays individual transfers, along with any errors.
- You can pay for a batch with your borderless account. If you're a US business, that means you can use ACH to top up your account, avoiding expensive wire fees.
- Hubstaff and TimeDoctor users can export their payroll directly to TransferWise.
The next thing we're tackling is multi-user access, right now this is a major pain point for our business customers.
Just to give you an idea, this is an early design of what multi-user access might look like:
Multi-user access makes it possible for you - and your team - to manage your TransferWise account together. On our roadmap we also have roles, permissions and dual approvals, which we believe can make TransferWise even better for businesses. The beta will soon open up to our test group from the UK and Europe.
It won't have all the bells and whistles just yet, and we're working with our beta users to make sure we build the features that really matter. We'll also add roles and permissions for each user, and payment approvals.
If you would like to get early access, you can join our beta program. Send me an email (email@example.com) for details. Hope to speak to you soon!
P.S. Want to work with me to build our business product? We're hiring!
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