Global payroll solution developer Deel announced Thursday (Aug. 25) that it is launching its Instant Card Transfer solution, giving contractors a more direct way to get paid.
Enabled through a partnership with Paysend, instant card transfers are the latest addition to Deel’s toolkit for businesses that need to hire internationally. Through Deel’s employment platform, businesses can hire contractors employed by Deel’s local legal entities in over 80 countries, with the company handling compliance, payroll and HR processes.
Contractors in Ukraine, Belarus, Georgia, Honduras, the Philippines, Kazakhstan and the Dominican Republic will be the first to access the new feature, per the announcement. Deel also plans to extend the method to more contractors worldwide.
“Hiring globally shouldn’t come with limitations, meaning paying contractors in certain countries shouldn’t be difficult,” said Deel Chief Operating Officer Dan Westgarth. “We’re excited to enhance Deel’s contractor experience by providing instant and reliable transfers, particularly in the new world of cross-border work. And we’re thrilled to partner with Paysend to do so. It’s an important milestone in helping businesses hire anyone, anywhere.”
By using their bank card details, contractors can use the new Deel feature to get paid immediately via the Mastercard or Visa network. The company stated on its website that 90% of transfers arrive in 15 seconds or less.
See also: Instant Payday Becoming Critical Tool in Battle to Recruit Freelance Talent
The rapid payment solution is targeted at companies that have an international workforce and may struggle with the often slow and cumbersome nature of legacy cross-border payment solutions.
Related: Paysend Launches Business Solution to Power Small Business Payments
As PYMNTS reported recently, instant payroll solutions like Deel’s card transfer product can be a critical tool in companies’ efforts to attract and retain freelancers and contractors.
For all PYMNTS EMEA coverage, subscribe to the daily EMEA Newsletter.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More