Wise raises prices for first time since 2020
UK fintech Wise has increased the average cost of money transfers for the first time since 2020 as it contends with high volatility in markets.
The average cost per transaction increased by 2 basis points to 0.64 per cent in the third quarter, compared with a year earlier. Matt Briers, Wise’s chief financial officer, said that reflected higher levels of foreign exchange volatility.
“We’re committed to a fair, transparent pricing structure, but also a sustainable profitable business model,” he said. “In the long run, prices will go down but it’s not a straight line.”
This story originally appeared on: Financial Times - Author:Siddharth Venkataramakrishnan
