Wise’s Bold India Move: 5 Game-Changing Reasons This Fintech Giant Is Disrupting Cross-Border Payments

Global fintech leader Wise is deepening its roots in India with a Hyderabad tech hub set to launch late 2025, aiming to hire hundreds for roles in engineering, product development, and operations. This move capitalizes on India’s tech talent to drive localized solutions and global innovation.

Simultaneously, Wise introduces multi-currency account details, enabling freelancers and SMEs to receive payments in eight currencies (USD, GBP, EUR, etc.) at mid-market rates—directly tackling India’s cross-border payment challenges: high fees (40%), opaque pricing (37%), and cumbersome processes (31%).

Already processing 10% of India’s inbound remittances, Wise now empowers outbound transfers up to $250,000 annually under India’s Liberalised Remittance Scheme, appealing to students, investors, and businesses. APAC engineering head Smrithi Ravi’s relocation to lead the Hyderabad hub signals a localized strategy, blending global expertise with regional insights. For India’s booming freelance economy and SMEs, this translates to faster, cheaper international transactions—positioning Wise as a catalyst in India’s $1 trillion fintech ambitions, while challenging traditional banks to evolve or lose relevance. 

Wise’s Bold India Move: 5 Game-Changing Reasons This Fintech Giant Is Disrupting Cross-Border Payments

Global fintech leader Wise is making waves in India with a bold expansion plan, signaling its commitment to reshaping how businesses and individuals manage international transactions. The company’s new Hyderabad tech hub, slated to open in late 2025, and the rollout of multi-currency account details for freelancers and SMEs highlight a strategic push to address long-standing pain points in India’s cross-border payment ecosystem.

Hyderabad: A Gateway to Innovation and Talent 

Wise’s decision to establish a full-stack hub in Hyderabad—home to India’s thriving tech talent pool—is no coincidence. The city, already a magnet for global tech giants, offers access to skilled engineers and product developers. By anchoring core teams in product development, engineering, and operations here, Wise aims to:  

• Accelerate localization: Tailor solutions for India’s unique financial landscape, where 10% of all inbound remittances already flow through Wise.  

• Drive global innovation: The hub will eventually support global product development, suggesting India’s growing influence in Wise’s worldwide strategy.  

• Create high-value jobs: Hundreds of new roles could bolster India’s fintech workforce, fostering expertise in cutting-edge payment technologies. 

Solving India’s Cross-Border Payment Headaches 

Independent research by Benori Knowledge reveals that Indian businesses face three major hurdles when receiving international payments:  

1. Exorbitant fees (cited by 40%)  

1. Hidden charges (37%)  

1. Cumbersome processes (31%) 

Wise’s new international account details feature directly tackles these issues. Freelancers and SMEs can now receive payments in USD, GBP, EUR, and five other currencies at the mid-market rate, bypassing traditional banks’ markup fees. For a freelancer invoicing a U.S. client, this could mean saving up to 3-4% per transaction—a significant boost for India’s $50 billion freelance economy.  

The Remittance Revolution: From Diaspora to Domestic Growth 

Since 2013, Wise has focused on simplifying remittances for India’s 32-million-strong diaspora. Today, its user-friendly platform and transparent pricing have captured 10% of India’s inbound remittance market. But its 2021 upgrade—enabling lightning-fast outbound transfers under India’s Liberalised Remittance Scheme (LRS)—marks a pivotal shift. Indians can now send up to $250,000 abroad annually via Wise, ideal for students, investors, or travelers seeking competitive rates.  

Leadership and Local Insight 

The relocation of Smrithi Ravi, Wise’s APAC engineering head, to lead the Hyderabad hub underscores the company’s “local-first” approach. Her deep understanding of both global fintech trends and India’s regulatory nuances could prove critical in navigating challenges like RBI compliance and currency volatility.  

The Bigger Picture: India’s Fintech Ascent 

Wise’s expansion reflects India’s emergence as a fintech powerhouse. With the sector projected to hit $1 trillion by 2030, innovations like Wise’s multi-currency accounts could empower millions of SMEs and freelancers to compete globally. Meanwhile, traditional banks may face pressure to overhaul outdated systems or risk losing market share.  

Why This Matters for You  

• Freelancers & SMEs: Slash transaction costs and receive payments faster, improving cash flow.  

• Expatriates & Families: Send money to India transparently, avoiding hidden fees.  

• Tech Professionals: Hyderabad’s hiring spree opens doors to global fintech projects. 

In a country where digital payment adoption is skyrocketing (UPI recorded 14B transactions in Q1 2025 alone), Wise’s blend of affordability and speed positions it as a key player in India’s financial future. As cross-border commerce grows, the real winners will be users no longer sidelined by opaque banking practices.  

The bottom line: Wise isn’t just expanding its footprint—it’s betting on India’s potential to redefine global fintech. And for millions of users, that bet could translate into fairer, faster, and more accessible financial tools.