CASE STUDY
We Changed the Way Workforces Are Paid
Rapyd helped Lano’s customers pay remote workers worldwide
while lowering transaction fees.
Rapyd and Lano Help Companies Build and Manage Their Global Teams
THE STORY
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.
But their solution for compliantly hiring remote talent only solved half the problem for clients. To go beyond their competition, Lano needed to deliver a seamless payment experience for companies and their global employees.
THE CHALLENGE
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.
THE SOLUTION
Lano used APIs to implement Rapyd Disburse and Virtual Accounts:
Rapyd Dispurse
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 Virtual Accounts
Lano’s clients can use Virtual Accounts to payout to global employees and freelancers faster in their local currencies with lower fees – even if those workers 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.