Aspire, a finance platform for businesses, has removed local payroll transfer fees and lowered FX charges, a shift that could ease one of the biggest pain points for companies managing cross-border teams.

Employers in Singapore can now process payroll transfers without incurring the usual S$0.20 to S$0.50 charge, while international transactions are set to cost less with reduced FX fees.

The platform also allows businesses to pay CPF contributions directly, helping them meet compliance requirements more easily.

Beyond cost savings, Aspire has upgraded its payroll system to cut down on repetitive administrative work.

Employers can store employee details once and use them for recurring payroll runs across individuals, groups, or entire teams.

Payments can be made directly on Aspire or through integrations with payroll software such as Talenox, HReasily, and Payboy.

Employers can also restrict access to salary data to selected staff, keeping sensitive information secure.

“Business finance should enable growth, not get in the way of it. Payroll is one of the most critical yet resource-intensive processes for businesses. By removing fees and simplifying workflows, we’re helping companies free up time and money that can be reinvested in growth.

These enhancements reflect our commitment to building a financial platform that not only powers business transactions but also reduces friction in essential operations.”

said Andrea Baronchelli, CEO and Co-Founder of Aspire.

Aspire, which serves more than 50,000 companies across 30 markets, offers services including international payments, treasury, expense, payable and receivable management.

Featured image: Edited by Fintech News Singapore, based on image by lenadig via Freepik