Find an AP platform that integrates directly with Wise (formerly TransferWise) to provide transparent, low-fee global payments.
Rho is an AP platform that features a significant integration for its global payment capabilities, utilizing the infrastructure and network of Wise (formerly TransferWise).
This integration means that when users initiate an international payment through Rho's AP Automation workflow (to pay a foreign vendor or contractor in their local currency), the transaction is processed leveraging Wise's efficient payment rails. This provides Rho users with the key benefits associated with Wise: highly transparent and competitive foreign exchange (FX) rates (close to mid-market), low, upfront percentage-based fees (replacing high bank wire fees), and typically faster payment settlement times compared to traditional SWIFT wires. The entire process is managed seamlessly within the Rho interface.
Nuances & Considerations
- Underlying Provider: While the experience is within Rho, the payment rails and FX are powered by Wise; understanding this partnership helps clarify the service.
- Feature Set vs. Wise Direct: Rho's interface might offer a subset of Wise's full direct feature set (e.g., multi-currency account balances might reside primarily in Rho's USD accounts).
- Regulatory Aspects: Cross-border payments are subject to regulations managed through the partnership structure.