Andela pays technologists in US dollars (USD) for several key reasons, ensuring stability, consistency, and a streamlined payment process for all our stakeholders.
1. Technologist preference and stability
Our payment solution is designed to provide you with stable payments through trusted wallet partners. While you receive a consistent USD payment, our vetted partners offer various withdrawal options that provide you with control over how and when you receive your funds in your local currency.
2. Operational consistency
Using USD as the standard currency allows Andela to process all payments predictably. This removes currency volatility for both our clients and our technologists, creating a standardized payment structure that works across the 100+ countries where we operate.
3. Reduced complexity
By maintaining a single, standard currency, Andela can offer a unified payment platform. This simplifies the administrative process, eliminating the need to manage multiple vendors and different currencies.
Got concerns about foreign exchange (FX) conversion rates?
We understand that you may have concerns about foreign exchange conversion rates, especially in regions where the local currency, like the Euro, has been strong. Andela's position is that USD payments provide overall stability and predictability, which benefits our entire technologist network.
If you have specific concerns about FX fluctuations, we encourage you to contact your Success Manager or submit a request here for assistance.