- Wise, a major name in the online money transfer world, has confirmed that it will be launching a new cashback service for businesses.
- Businesses that are based in the UK can use the service, though there may be plans to take it to other nations around the world in the future.
- “We’ll continue to do all we can to give businesses the international banking services they deserve, from providing features like cashback to building a world where money can move without borders,” said a senior spokesperson for Wise.
Wise, a major name in the online money transfer world, has confirmed that it will be launching a new cashback service for businesses. The service will give business clients on the platform a 1% cashback reward when they use their card.
While the feature only applies to UK-based clients the transactions can be made from anywhere in the world, with the cashback itself being paid at the start of each calendar month.
According to press reports, clients that have cards and are based in the UK will be added to the system straight away. It is thought that Wise will attempt to expand the system to other countries in the future.
The firm, which has over 300,000 active clients, is aimed at small or medium-sized businesses.
Clara Nobre, Head of Wise Business, explained that the company wanted to help its customers navigate the current business environment.
“Small and medium-sized businesses face a tough business environment, so we want to help where we can,” said Nobre in a statement.
“Giving businesses cashback on their spending is just one way we can do this,” she continued.
“We’ll continue to do all we can to give businesses the international banking services they deserve, from providing features like cashback to building a world where money can move without borders.”
The firm did, however, point out that there would be some exclusions to the transactions that it included as part of this.
These will include gambling transactions, as well as withdrawals at ATMs and payments made to government bodies or as part of tax payments.
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