Deel, a global HR and payroll platform, has introduced its new physical spend card, now available to contractors in 20 countries, with plans to expand further.
The Deel Card, which offers virtual and physical options, aims to provide contractors with immediate access to their earnings, enabling them to shop worldwide, pay securely, and hold their funds in a stable currency.
The Deel Card is designed to simplify financial management for contractors. Traditional payment systems often require contractors to wait for funds to clear before accessing them. The Deel Card addresses this by allowing instant access to earnings, facilitating faster and more flexible spending.
Also, the card supports holding balances in USD, offering greater financial stability for international contractors, especially those in regions with less stable currencies.
“Our focus at Deel is to offer contractors the best payment experience possible, including flexibility and speed. With Deel’s physical card, they’ll be able to access their money faster and in USD, no matter their location,” said Dan Westgarth, COO at Deel.
Airwallex
The Deel Card is a global Visa card powered by Airwallex, a payments and financial platform. Airwallex’s infrastructure enables Deel to issue local cards in multiple locations, including Brazil, Argentina, and Australia. This local issuance allows contractors to benefit from lower transaction costs and higher acceptance rates compared to international cards.
“The ability to operate across borders can unlock substantial growth for companies of all sizes,” said Ravi Adusumilli, executive general manager, Americas, at Airwallex. “Deel and Airwallex are shaping the future of work by allowing contractors to receive and spend their earnings anytime, anywhere, and in their preferred currency.”
Contractors can easily request a Deel Card through the Deel app. Once approved, they can use it for physical transactions, with a virtual card available for online use.
The Deel Card provides several key benefits for contractors, including immediate access to funds, secure transactions, and global acceptance, making it an ideal financial tool for the modern global workforce.