Native Teams' payment tools are designed to streamline financial transactions and provide users with flexibility and convenience. Here's how each of the payment tools works:
Multi-currency Digital Wallet: Users can store and manage assets in multiple currencies within a virtual wallet. This wallet serves as a central hub for all financial transactions, offering flexibility in managing incoming payments and accessing funds. Each account comes with an IBAN, facilitating seamless transactions across borders.
Local Bank Transfers: Users can initiate secure transfers between bank accounts in various currencies. This feature ensures hassle-free movement of funds and allows users to send and receive payments globally.
Payment Requests: Users can request payments from clients or other parties either as one-time transactions or recurring payments. Funds can be received directly into the virtual wallet or expense card, providing instant access to funds.
Native Teams Card: The Visa/MasterCard linked to the multi-currency digital wallet enables users to make online and in-store purchases globally. It offers a convenient way to access funds and manage expenses while travelling or conducting business internationally.
Wallet Transfers: Users can easily transfer funds between different currency wallets or initiate batch payments to team members. This feature facilitates quick and efficient fund transfers, ensuring timely payments to recipients.
Expense Management: Native Teams provides tools for categorising expenses as business or personal, maintaining records, and generating reports for tax compliance and financial analysis. This helps users track their spending and manage their finances effectively.
Client Invoicing: Users can generate custom invoices for their clients, whether local or international. Once the client pays the invoice, the funds are directly added to the virtual wallet, streamlining the invoicing and payment process.
Global Payroll: Native Teams offers global payroll services to businesses operating in multiple countries. This feature automates payroll processes, ensuring employees are paid in their local currency and local bank accounts. Native Teams also handle tax, social, and other contributions to ensure compliance with local regulations.
Savings in Native Vault: Users can securely store money in the Native Vault and earn rewards through savings within the platform. This feature provides users with a safe and convenient way to save money while enjoying attractive rewards.