To help you better understand the Wise investment case, we’ve gathered straightforward answers to the most frequent questions we hear from investors and analysts.
General
Our mission is money without borders – making it instant, convenient, transparent, and low-cost. We are building the best way to move and manage the world's money for people and businesses.
We primarily generate revenue by charging a small, transparent, upfront fee on cross-border transactions. We also generate revenue from our account features, such as debit card interchange fees, as well as other features, and through interest income earned on customer balances.
Our products allow customers to send money internationally, to spend using their Wise card, to hold balances and, where applicable, earn interest on their balances, in addition to other products built so our customers can manage their money at home and abroad. These products power three customer solutions: Wise Account (for personal users), Wise Business (providing for SMEs), and Wise Platform (which allows banks and large enterprises to integrate our infrastructure into their own apps).
Unlike traditional banks that rely on slow and costly systems, we offer our customers a suite of products built on our proprietary global financial infrastructure. This gives customers more control to manage and move money with lower fees, faster speed and complete transparency.
Customers and Products
Wise Account is designed for individuals needing to manage daily spending at home and international finances (expats, travelers, freelancers).
Business is tailored for small to medium enterprises paying overseas suppliers or receiving foreign income.
Platform is a solution that lets traditional banks, fintechs, and large enterprises offer Wise's speed and pricing natively within their own platforms.
As of our latest reporting period, Wise serves over 15 million active customers globally, spanning both personal and business accounts.
Customers use Wise for a variety of needs: everyday spending, sending money home to family (remittances), paying foreign suppliers, receiving salaries or freelance income in multiple currencies, holding funds in 40+ currencies, and spending abroad without hidden exchange rate markups using the Wise card.
Customers mostly join Wise as a result of a recommendation from someone who already enjoys using Wise. We supplement this with highly targeted performance marketing and SEO and, more recently, with brand marketing in certain regions.
Wise supports transfers in over 40 currencies across more than 160 countries. We have established direct local integrations and licences in numerous major jurisdictions.
Wise Platform
Wise Platform is one of our fastest-growing segments. It processes billions in volume annually and acts as the cross-border infrastructure for dozens of major financial institutions globally. As of Q3 FY26, Wise Platform was ~5% of total cross-border volume.
We currently partner with banks, credit unions, and enterprise partners worldwide, including names like Morgan Stanley, Standard Charter, UniCredit, Monzo, among others.
Revenue is generated primarily through fees on transactions processed via our infrastructure, alongside potential integration and software licensing fees depending on the partnership structure. Our price is based on the services adopted by the partner.
As with our other products, Wise Platform pricing follows a cost+margin framework. Because Wise Platform leverages the exact same underlying payment network and infrastructure built for our direct consumers, the marginal cost of processing partner volumes is extremely low, leading to highly attractive unit economics.
The addressable market is massive. Thousands of financial institutions globally currently rely on outdated correspondent banking networks. As we continue to build our global infrastructure, Wise Platform has the potential to become the default global standard for cross-border movement for banks everywhere.
Our underlying infrastructure. Unlike white-label providers that merely put a software layer over Swift, we connect partners directly to our proprietary local payout rails, delivering high speed, low costs, and exact settlement amounts without hidden correspondent fees.
Financials
In FY25, Wise processed $185.2 billion in cross-border volume, reflecting strong continued growth across both Personal and Business segments.
As of September 30, 2025, our customers’ holdings across Wise Accounts and Wise Assets equaled $33.9 billion, reflecting the trust we have built with our customers. This included $7.5 billion held with Wise Assets, an account feature that helps our customers earn a return on their money while ensuring it remains conveniently accessible.
Our strategy is structurally different from banks: we aim to sustainably lower prices over time. We price our services to cover our costs plus a sustainable margin. As we scale and our unit costs decrease, we pass those savings to customers via lower fees.
Wise is successfully diversifying its revenue beyond cross-border fees as customers increasingly adopt the Wise Account as their primary global financial tool. While cross-border fees remain the largest driver, other sources like card revenue, interest income, and various account features have been growing rapidly. As of H1 FY26, these non-cross-border sources represented a significant 51% of net revenue and 33% of transaction revenue.
We earn interest on the balances customers safeguard with us. We use this interest deliberately to ensure sustainability, fairness and a world-class proposition. We use the first 1% yield received to contribute towards the costs of the account, of the rest, 20% goes to income before tax, and 80% is made available for interest payments to customers, where operationalized and local regulations permit.
Our income before tax margin for FY25 and H1 FY26 was 34.2% in FY25 25.9%, respectively. This was above our mid-term US GAAP margin target of 15-20%, primarily because of interest income that we’re currently unable to pay back to customers. Until we are substantially able to pay out our target 80% of interest income above 1% yield to customers, we expect to report an above mid-term target income before tax margin of 20-25%
Yes. Our priority is to securely fund the organic growth of the business and maintain strong regulatory capital buffers. Once those requirements are met comfortably, we review excess capital. In April 2025, this led to authorization of a share repurchase program to return value to shareholders while mitigating dilution.
Emerging Technologies
We leverage Artificial Intelligence and Machine Learning across multiple areas of our operations to enhance efficiency and customer experience. Key applications include strengthening our anti-money laundering (AML) and fraud detection systems, optimizing our treasury and liquidity management, and automating customer support workflows to provide faster, more accurate resolutions. We enable all Wisers to use AI whether they’re building products, marketing them or preparing our financial accounts.
We continuously monitor emerging technologies, including blockchain and digital currencies, and we consider those emerging technologies can demonstrably help us move money cheaper and faster than our current proprietary network. Our core focus remains on solving real customer problems—speed, cost, transparency, and convenience. We remain technology-agnostic and prioritize tangible customer benefits.
Disclaimer
This website contains information that is forward-looking, including within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, and which reflects our current views with respect to, among other things, its operations, its financial performance and its business and industry. Forward-looking statements include all statements that are not historical facts. In some cases, you can identify these forward-looking statements by the use of words such as “outlook,” “believe,” “expect,” “potential,” “continue,” “may,” “will,” “should,” “could,” “would,” “seek,” “predict,” “intend,” “trends,” “plan,” “estimate,” “anticipate,” “projection,” “goal,” “target,” “aspire,” “will likely result” and or the negative version of these words or other comparable words of a future or forward-looking nature.
Such forward-looking statements are subject to various risks and uncertainties. Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. Such factors include, among others, risks related to the Our business, operations and financial performance, including expectations regarding revenue, operating expenses and other operating results; ability to acquire new customers and successfully retain existing customers; ability to maintain profitability; anticipated trends, the size and growth rates of the markets in which the Company operates; market acceptance of our products and ability to increase adoption of our products; future investments in our business; ability to adapt to technological change and industry trends and innovate solutions for its customers; ability to scale, enhance and adapt our infrastructure and bring new products and services to market in a timely manner; ability to effectively and responsibly develop, deploy and integrate artificial intelligence and machine learning technologies, and to comply with evolving laws and regulations governing their use; the costs and success of its marketing efforts and its ability to maintain and enhance our brand; growth strategies, including its ability to manage our growth; ability to manage its international operations and expansion into new jurisdictions, including exposure to foreign currency exchange rate fluctuations; the estimated addressable market opportunity for our products and services generally; reliance on key personnel and its ability to attract and retain highly qualified personnel; ability to obtain, maintain, protect and enforce its intellectual property rights; ability to compete effectively with existing competitors and new market entrants; ability to comply with applicable laws and regulations, including its ability to obtain and maintain required licenses, in the jurisdictions in which the Company currently and may in the future operate; the effect of regulatory developments in the jurisdictions in which the Company currently and may in the future operate; ability to successfully identify acquisition targets, consummate acquisitions and successfully integrate acquired businesses and personnel; and the performance, reliability, security and efficiency of our payments network, including the risk of service interruptions, outages or system failures.
Additional factors that could cause our results to differ materially from those described in the forward-looking statements can be found in our public filings with the Securities and Exchange Commission (“SEC”), as such factors may be updated from time to time in our periodic filings, which are accessible on the SEC’s website at www.sec.gov.
Accordingly, there are or will be important factors that could cause actual outcomes or results to differ materially from those indicated in these statements. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in our filings with the SEC. The Company undertakes no obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.