Aircrew was born out of necessity at Outliant as we employ workers from all over the world. International payments can be challenging, for the company but primarily for the employee or contractor. Receiving payments from a US-based company usually comes from PayPal, Skrill, Payoneer, Transferwise, or other tools that fall short of the mark. The reason those services fall short for the worker is due to funds being held without transparency, poor conversion rates, high fees, inability to receive deposits in local bank accounts or currencies. On the flip side, as an employer, those platforms have additional issues such as being highly manual for processing payments and don’t enable any sort of legal compliance.
The challenge boiled down to providing local payouts at a fair exchange rate and enabling compliance for the company. We needed to ensure all our employees received fair value conversion and were able to be paid on time, every time. For us, we need to ensure our workers are staying compliant with their local and US laws.
We started by looking at the players in the market, the ones mentioned above as well as Transfermate, Pilot, and Deel. We researched the right institutions to use to achieve the goal and settled on Dwolla, Currencycloud, and Plaid. For contracts, we worked with the US and international attorneys to construct locally compliant contracts.
Aircrew is an Outliant product intended to go-to-market to compete with Deel and Pilot. The product has been internalized and currently in the process of morphing into a more robust fintech play. Stay tuned for the future of Aircrew.