Wise Sees £350M Income Boom as Cross-Border Payments Surge Past £39B
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UK FinTech giant Wise delivered impressive results, with underlying income hitting £350 million—a 13% jump driven by booming cross-border payment volumes surpassing £39 billion. Despite a slightly reduced take rate of 0.53%, the firm maintained a solid 20% profit-before-tax margin, demonstrating resilience amid competitive pricing pressures.
Wise’s user growth soared, surpassing 9 million active customers, up 17% from last year. Instant transfers climbed to 65% of all transactions, reflecting strong customer preference for speed and convenience.
Strategically, Wise deepened its global footprint by entering Mexico, launching Wise Business in Hong Kong, and partnering with Itaú Unibanco in Latin America for faster cross-border payments. Additional initiatives like interest-bearing accounts in Australia and opening a new hub in Hyderabad underline Wise’s ambitious international expansion.
This performance underscores Wise’s successful positioning as the go-to platform for affordable, seamless global payments.
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FINTECH NEWS
🇬🇧 Income at UK FinTech Wise jumps as payment volumes soar. The FinTech booked an underlying income of £350m for the financial year. This was a 13% increase from the previous year. Cross-border volumes soared 28% to £39.1bn, up from £30.6bn.
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PAYMENTS NEWS
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DIGITAL BANKING NEWS
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BLOCKCHAIN/CRYPTO NEWS
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PARTNERSHIPS
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DONEDEAL FUNDING NEWS
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M&A
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MOVERS AND SHAKERS
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