Wise is a cross-border payments and money management platform. The company provides international money transfers, multi-currency accounts, and debit cards to individuals, small businesses, and financial institutions. Wise differentiates its service by offering the mid-market exchange rate with transparent upfront fees, avoiding the hidden markups typically charged by traditional banks. For individuals, the Wise Account enables users to send, hold, and spend in 40+ currencies and receive funds via local account details. Wise Business offers these features to small and medium enterprises alongside multi-user access and accounting tool integrations. Through Wise Platform, the company integrates its payment infrastructure into the applications of banks and other firms via API. Wise generates revenue through transparent transaction fees, card interchange, and net interest income from customer balances. The company's business model depends on establishing direct connections to domestic payment networks to bypass correspondent banks, which lowers per-transaction costs and improves speed. Wise's strategy focuses on increasing transaction volume and share-of-wallet by expanding its geographic reach and growing its platform partnership network. Most new customers join Wise through word-of-mouth, which maintains low acquisition costs.