Lili now offers international wire payments across 27 countries to support small businesses in global expansion.
Lili, a financial platform for small business owners, introduced an international wire payment solution enabling SMBs to send and receive payments in North America, Europe, and Asia.
The key features of the new offering include unlimited inbound transfers, high outbound limits, enhanced security, competitive pricing, and quick payment processing within 24 hours. Lili also integrates these international payments with its Bill Pay solution, which combines payments and accounting, helping business owners maintain a comprehensive view of their financial activity for streamlined financial management and better vendor relationships.
Traditionally, small businesses lack the infrastructure for complex cross-border payments. They often face disproportionately higher transaction fees and slower processing times for cross-border payments compared to larger corporations that have access to advanced financial infrastructures. Besides, over 60% of small businesses find cross-border payments complicated or confusing due to differences in currency exchange rates, regulatory requirements, and bank network incompatibility. Since they are slower to adopt digital payment solutions, it is further limiting SMBs’ ability to handle international payments efficiently.
Lili’s new service aims to bridge that gap, empowering small businesses to grow and compete globally by simplifying international transactions. At launch, wire transfers are available in 27 different countries across North America, Europe, and Asia. Lili plans to extend its reach to more countries later this year.
Founded in 2019, Lili combines business banking with accounting and tax prep tools to help small business owners manage their finances efficiently. The fintech is headquartered in New York and serves customers in all 50 U.S. states.
Among Lili’s latest innovations, there is an AI accountant designed for small business owners. Accountant AI has a user-friendly, chat-based interface and provides personalized, insightful responses to business accounting questions in seconds. The tool leverages detailed knowledge of the company’s business finances and the latest industry trends, helping business owners to be better equipped to succeed in an evolving business environment.
