Upwork has integrated Wise Platform as a new infrastructure partner to enhance international payment solutions for freelancers.

This integration enables faster cross-border transfers, allowing users in certain markets to receive payments more quickly into their local bank accounts. Upwork mentions that freelancers in parts of South America, the Asia-Pacific region, and Europe will benefit from having their transfers processed through Wise’s network when using the ‘Direct to Local Bank’ option.

Improving Transfer Speed and Flexibility

Upwork representatives stated that working with Wise helps freelancers gain quicker access to payments. They also mention potential future expansion of this partnership to cover more markets, aligning with the company’s goal of serving over 180 countries.

Wise officials highlighted that their agreement aims at increasing efficiency in cross-border transactions for independent workers. This is crucial as freelancers represent a significant portion of the global workforce and require reliable methods for managing their earnings.

Data from Upwork shows that 28% of skilled American workers are involved in freelancing or independent work, generating nearly USD 4 billion annually worldwide. Analysts believe this trend towards professionalizing freelance work is driving demand for better financial tools.

Wise’s payment infrastructure connects to six payment systems and holds over 70 licenses globally, with about 70% of transactions completed within 20 seconds. Upwork is among various companies like Google, Morgan Stanley, Brex, and Ramp that have partnered with Wise for international money transfers.