According to Wise Business, the new tool is designed to simplify the payments process for SMEs by enabling users to issue invoices and to automate their reconciliations.

The roll-out follows a successful beta testing phase

"Invoicing is an essential yet often dreaded part of running a business. Existing providers don’t meet the specific needs of small businesses and sole traders, forcing them to rely on expensive accounting software, or manually maintained spreadsheets," said Akshay Menon, product manager at Wise.

"We’ve built this new feature to take the pain out of invoicing, and to make getting paid as simple as possible."