Wise , a global technology company focused on cross-border money transfers, has gained direct access to InstaPay, the Philippines' real-time payment system. Additionally, the company can now directly settle transactions through the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus.

The direct link to InstaPay aims to improve cross-border payment services for Wise's 13 million customers globally, along with millions more users of financial institutions like Bank Mandiri, which utilise Wise's platform for international payments. Key benefits include instant transactions for transfers up to USD 850 from 28 currencies, faster withdrawals to local banks and e-wallets in the Philippines, and simple top-ups for Wise accounts and cards. Larger transfers that exceed InstaPay’s limit will continue to be processed with 94% of them arriving within 24 hours.

Wise's direct connection to InstaPay is part of the company's broader strategy of building connections to national payment systems. Since 2018, Wise has secured access to systems in the UK, EU, Singapore, Australia, and most recently, Japan and Brazil, further improving its global payment network. This latest integration underscores Wise's commitment to making international payments faster and more cost-effective, particularly for customers in the Philippines and partners using the Wise platform.

Wise builds global network with direct links to local payment systems Wise’s global strategy has centred around building direct connections to domestic payment systems, a move that allows the company to bypass traditional correspondent banking networks. This shift is crucial for improving the speed, cost, and transparency of cross-border payments. Traditional banking systems often rely on intermediaries, which can result in delays, hidden fees, and exchange rate markups.

By establishing direct links to national payment infrastructures, Wise reduces these inefficiencies, offering faster transactions and lower fees for its customers. A key part of Wise’s expansion strategy has been gaining access to real-time payment systems across the globe. Since 2018, Wise has been steadily connecting to domestic systems, starting with the UK’s Faster Payments System (FPS), followed by the EU’s SEPA Instant in 2020.

In 2021, Wise further expanded its network with direct integrations into Singapore’s FAST system and Australia’s NPP, improving its ability to provide near-instant transactions in these regions. More recently, Wise secured access to Japan’s Zengin system, enabling faster payments into the Japanese market, and Brazil’s PIX, an instant payment network that has revolutionised transactions in Latin America. These connections are part of Wise’s broader mission to create a global financial infrastructure that supports real-time, low-cost international transfers.

By continuing to invest in direct connections, Wise aims to further simplify cross-border payments for millions of customers and partner institutions worldwide. Source: Link .