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Emburse + TransferWise help employers reimburse international expenses

Business Team

20.10.20 (updated more than 1 year ago)

Read time 2 minutes

Emburse has integrated the TransferWise API to make submitting, paying, and tracking international expenses easy, fast, and cost-effective. Say hello to Emburse Global Reimbursements powered by TransferWise.

Before Emburse entered the game, expense reporting was at the bottom of most employers and employees to-do list. It can be time consuming and expensive — for everyone.

For years Emburse worked tirelessly to improve it. And now, over 4.5 million people benefit from their expense management products.

But employers with international employees still have some pain points when it comes to handling expenses. That's why Emburse has partnered with TransferWise to launch Emburse Global Reimbursements powered by TransferWise — the faster, cheaper, easier way to handle multi-currency expense reimbursements.

A common problem when working abroad

Emburse is a global leader in automated expense management and accounts payable solutions. It’s made up of six different products, Abacus, Chrome River, Certify, Captio, Nexonia, and Tallie.

Its product Abacus is already used by companies like Pinterest and Classpass to make real-time domestic payments a reality. But until today, processing international expenses has not been as seamless.

That's because payments to employees based outside of the US are sent via the SWIFT network, which is slow and expensive. Plus, converting to another currency with a bank often meant expenses are paid out at an inflated exchange rate. So employees don't always get back what they’re owed.

That's why Emburse integrated TransferWise, so customers can pay with TransferWise to reimburse their international employees faster, and for less fees.

The TransferWise API is built to fix this

Emburse integrated the TransferWise API to help businesses and their employees wherever they work.

For employers, the integration simplifies the entire process by collecting employee bank details, grouping multiple expenses into a single payment, and keeping track of payments to make sure employees are paid on time — and securely.

All employee data is automatically added so finance teams can process thousands of payments in different currencies in just a few clicks. And with real-time tracking and status updates, employers can process expenses and move on with their day.

Plus, with TranferWise’s low and transparent pricing, employers won’t be stuck with the crazy fees they see from their bank. Like all TransferWise transfers, Emburse Global Reimbursements always uses the mid-market rate and conversion fees are low.

Employees also reap the benefits. They’ll receive their reimbursements in the right currency faster — sometimes in minutes. And since TransferWise is cheaper than a bank, employees are getting back exactly what they are due — without hurting their budgets.

Companies like ClassPass are excited

ClassPass is one of the companies looking forward to using the new TransferWise integration. They are excited about all the money they will save. Plus, their employees across 30+ countries have the potential to receive payments up to 90% faster than they do now.

And for the 14,000+ other businesses in 120+ countries who also use Emburse for expenses, paying with TransferWise via Emburse Global Reimbursements will be a game changer.

Learn more about Emburse Global Reimbursements powered by TransferWise

Want to talk with the TransferWise team about how your business can leverage our API? Get in touch today

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