Rapyd and Lano Changed the Way Global Workforces Are Paid
Rapyd helped Lano's customers pay remote workers worldwide while lowering transaction fees.
Lano is a remote employment platform based in Germany that makes it easy for companies to manage and pay global teams, including remote employees, freelancers, and contractors.
When COVID-19 caused an explosion in the number of remote and freelance workers, Lano was in high demand – growing 10x in 2020.
They found that compliantly hiring remote talent only solved half the problem for growing companies. To go beyond existing market solutions, they needed to deliver a seamless payment experience for companies and their global employees.
Contractors and remote workers need to be paid on time and in local currencies. But cross-border payouts are notoriously slow and expensive for both parties. Lano needed a solution to provide cost-effective and easy payout solutions to reach workers in Europe, Latin America and Asia.
“For businesses, it is extremely crucial that their freelancers and contractors are paid fast and in the correct currency. They don’t want to incur fees or pass on expenses to their employees for international transfers or foreign exchange,” explained Natalia Żurawska, Head of Payments at Lano.
Lano implemented Rapyd Disburse and Rapyd Wallet API Platforms:
Lano uses Rapyd Disburse to add global bank transfers, cash and other payout methods. These methods let their clients pay workers faster, in local currencies – and often with no costs.
Rapyd Wallet gives Lano’s clients and their global employees the ability to generate virtual IBAN (vIBAN) accounts. This reduces fees for both sides and ensures remote workers are paid faster, even if they don’t have traditional bank accounts.
Rapyd Issuing (Coming Soon)
Lano is creating a globally scalable, white-label card issuing program using Rapyd Issuing. This will give Lano the ability to offer its clients corporate or consumer cards to access and spend funds in multiple currencies.