Airwallex: Global Business Payments & Shopify Integration

Airwallex is changing the way businesses handle money across borders. This Melbourne-born fintech company has grown into a global player since its launch in 2015.

Airwallex offers a suite of financial tools that help businesses send, receive, and manage funds internationally with ease and speed.

Join Airwallex and get your first $20,000 of foreign exchange free

With Airwallex, you can open accounts with local bank details in minutes and accept payments in different currencies. This saves you from costly conversion fees and lets you operate like a local business anywhere in the world. The company's multi-currency wallet lets you hold and swap between currencies effortlessly.

Airwallex isn't just about moving money. It's reshaping how businesses think about global finance. From small cafes to large corporations, Airwallex's tools are helping companies grow beyond their borders. Whether you're looking to expand overseas or simplify your current international operations, Airwallex might be worth a look.

Key Takeaways

• Airwallex offers quick, cost-effective global payment solutions for businesses
• You can open local accounts and accept multiple currencies with Airwallex
• The platform helps businesses of all sizes operate globally with ease

About Airwallex

Airwallex is a global fintech company that's changing how businesses handle money. It offers tools to help companies work across borders easily.

Founding and Mission

Airwallex was started in Melbourne in 2015. Jack Zhang and three mates set it up after running a café and facing high fees for buying supplies from overseas.

They wanted to make it cheaper and easier for businesses to work globally. Their goal? To help firms grow without money worries slowing them down.

The company aims to create a world where businesses can work anywhere without limits. They're building new ways to move and manage money across countries.

Airwallex Capital and Yield

Airwallex offers two key products for businesses: Capital and Yield.

Airwallex Capital helps you get quick loans for your business. You can borrow money to grow or manage cash flow bumps.

Airwallex Yield lets you earn interest on spare cash. It's a way to make your money work harder while you're not using it.

These tools give you more options for managing your business money. They're designed to be simple to use and fit with Airwallex's other services.

Notable Investors

Big names have put money into Airwallex, showing they think it's onto something good.

K2 Asset Management is one well-known investor. They manage lots of money and pick companies they think will do well.

Other investors include venture capital firms and tech companies. They've helped Airwallex grow by giving money and advice.

These backers bring more than just cash. They offer connections and know-how that help Airwallex improve and expand.

Airwallex's Core Offerings

Airwallex offers a range of financial tools to help businesses manage money globally. These products make it easy to handle payments, expenses, and banking across borders.

Business Accounts

Airwallex's business accounts let you hold and move money in multiple currencies. You can open accounts in seconds and use them to pay suppliers or receive funds from customers worldwide.

These accounts come with local bank details in major markets. This means you can avoid hefty international transfer fees.

You can also link your Airwallex account to popular accounting software. This makes bookkeeping a breeze.

Corporate Cards and Spend Management

Airwallex's corporate cards give you control over company spending. You can set limits and track expenses in real-time.

The spend management tools let you create virtual cards for online purchases. This adds an extra layer of security to your transactions.

You can also automate expense reports. This saves time and reduces errors in accounting.

Borderless Cards and Global Accounts

Borderless cards work like local cards in different countries. You can use them to make purchases or withdraw cash without high foreign exchange fees.

Global accounts let you receive payments like a local business. You get bank details for major currencies, making it easy for customers to pay you.

These tools are great for companies with international clients or suppliers. They help you avoid currency conversion costs and speed up transactions.

API and Embedded Finance

Airwallex's Core API lets you add financial features to your own software. You can build custom payment solutions that fit your business needs.

The API supports various payment methods and currencies. This means you can offer flexible options to your customers.

Embedded finance lets you add banking services to your product. For example, you could offer instant payouts or multi-currency wallets.

These tools are ideal for tech-savvy businesses looking to innovate. They can help you create unique financial products for your customers.

Global Financial Operations

Airwallex offers powerful tools to simplify your global financial operations. You can manage payments, currencies, and transfers with ease using their platform.

Cross-Border Payments

You can send money to over 130 countries with Airwallex's cross-border payment solutions. The platform lets you pay suppliers, staff, and partners worldwide in their local currencies.

You'll save time and money by avoiding traditional bank transfers. Airwallex uses its own payment network, cutting out middlemen and fees.

Their system is quick too. Most payments arrive the same day, with some instant transfers available.

FX Conversion and Interbank Rates

Airwallex gives you access to great foreign exchange rates. You'll get close to the interbank rate when converting currencies.

This means big savings compared to typical bank rates. You can hold multiple currencies in your account and switch between them easily.

The platform shows real-time rates, so you always know what you're getting. You can also set up automatic conversions at your preferred rates.

Accounts Payable and Bill Pay

Managing bills across borders is simple with Airwallex. You can set up recurring payments for regular expenses.

The system lets you approve invoices digitally. This speeds up your accounts payable process.

You can pay bills in different currencies from one account. This saves you from juggling multiple bank accounts.

Airwallex also offers virtual debit cards. You can use these for online purchases or subscriptions in various currencies.

High-Speed Transfers

Airwallex's high-speed transfers make moving money quick and easy. You can send funds to local bank accounts in many countries.

Most transfers arrive within 24 hours. Some are even instant, depending on the destination.

You'll get local bank details in major markets. This makes receiving payments from customers abroad much simpler.

The platform supports batch payments too. You can pay multiple recipients in one go, saving time on admin work.

Technological Integration

Airwallex offers powerful integrations to streamline your business operations. These connect seamlessly with popular platforms and tools, making your financial processes smoother and more secure.

Ecommerce Platform Integration

Airwallex works with many ecommerce platforms to help you manage global payments. You can easily connect your online store to process international transactions.

The API allows for quick setup with major platforms like Shopify and WooCommerce. This means you can start accepting payments in multiple currencies right away.

With these integrations, you'll see faster payment processing and lower fees. Your customers can pay in their local currency, which often leads to more sales.

Finance and Accounting Software Integration

Simplify your bookkeeping by linking Airwallex to your accounting software. This saves you loads of time on data entry and reconciliation.

Popular integrations include Xero and NetSuite. When connected, your transactions automatically sync to your accounting system.

You'll get real-time updates on your cash flow. Plus, expenses are categorised without you lifting a finger.

These integrations help you:

• Reduce errors from manual entry
• Get a clear picture of your finances
• Make tax time less stressful

Security and Risk Management

Airwallex takes your security seriously. Their system uses top-notch encryption to protect your data and transactions.

You'll benefit from:

• Multi-factor authentication
• Real-time fraud monitoring
• Compliance with global financial regulations

The platform's risk management tools help you spot and prevent dodgy transactions. This keeps your business safe from financial crimes.

Regular security updates ensure you're always protected against the latest threats. You can rest easy knowing your financial operations are in safe hands.

Client-Centric Approach

Airwallex puts you at the centre of everything they do. Their focus on your needs shines through in their support, clear product info, and helpful resources. Let's look at how they make your experience better.

Customer Support Experience

When you need help, Airwallex is there for you. Their friendly team is ready to answer your questions by phone, email, or chat. You can reach out any time, day or night.

They aim to solve your problems quickly. No long waits or being passed around. The support staff know their stuff and can help with tricky issues.

Airwallex also has self-help options. Their website has lots of easy-to-use guides. You can often find answers without having to contact anyone.

Product Disclosure Statements

Airwallex keeps you in the loop about their business accounts. They use clear language in their product info. No confusing jargon or fine print to trip you up.

Their statements spell out:

• Fees and charges
• Features and benefits
• Risks and limits

You'll always know what you're signing up for. Airwallex updates these docs often to keep them current. They want you to make smart choices about your money.

Educational Resources for Users

Airwallex goes beyond just selling services. They want to help you grow your business smarts. Their website is full of free learning tools.

You'll find:

• Blog posts on finance topics
• Webinars led by experts
• Guides on global trade

These resources cover things like:

• Managing cash flow
• Expanding overseas
• Saving on currency exchange

Airwallex uses tech and a customer-first approach to make global business easier. Their learning tools help you make the most of their platform.

Regulatory and Market Position

Airwallex faces unique challenges and opportunities in the financial world. The company must navigate complex regulations while competing with established banks and shaping the future of fintech.

Financial Compliance

As a global payments player, Airwallex must follow strict rules. You might wonder how they manage this across different countries.

In Australia, the company has caught the eye of APRA, the financial watchdog. APRA now requires Airwallex to get bank guarantees for customer funds. This shows how fast-growing fintechs can clash with old laws.

Airwallex has to balance innovation with compliance. They need to:

• Meet local regulations in each market
• Protect customer funds
• Maintain transparency in their operations

Competing with Legacy Banking

You might ask, how does Airwallex stack up against big banks? Well, they've got some tricks up their sleeve.

Airwallex offers faster, cheaper global payments. This appeals to businesses looking to save money and time. They've built their own tech from scratch, which gives them an edge.

The company now supports over 100,000 businesses globally. Big names like Qantas and SHEIN trust them. This shows they're giving traditional banks a run for their money.

The Future of Fintech and Financial Services

What's next for Airwallex and the fintech world? You'll want to keep an eye on a few key areas.

Airwallex plans to expand in the US and Europe. They're also looking to launch in Japan and India. This global growth could reshape how businesses handle money across borders.

The company is also on the hunt for acquisitions. With $100 million set aside, they might snap up other fintechs to boost their services.

As regulations evolve, Airwallex and other fintechs will need to stay nimble. The future of finance looks exciting, with more seamless, global options for businesses of all sizes.

Join Airwallex and get your first $20,000 of foreign exchange free

Frequently Asked Questions

Airwallex offers various services to businesses and has a straightforward sign-up process. The company supports career growth and has an interesting founding story.

How can I sign up for an Airwallex account?

To sign up for an Airwallex account, you can visit their website and click on the "Get Started" button. You'll need to provide some basic information about your business and verify your identity.

The process is quick and can often be completed in just a few minutes. Once approved, you can start using Airwallex's services right away.

What services does Airwallex offer to businesses?

Airwallex provides a range of financial services for businesses. These include global accounts and wallets to collect payments in multiple currencies.

You can also use Airwallex for international money transfers, currency exchange, and issuing virtual payment cards. They offer tools for managing payroll and expenses as well.

Is Airwallex recognised as a legitimate banking entity?

Airwallex is not a traditional bank, but it is a regulated financial institution. They operate under licences from regulatory bodies in various countries.

While they can't offer all the services of a traditional bank, Airwallex is recognised as a legitimate provider of financial services for businesses.

How does Airwallex support career development?

Airwallex values employee growth and offers various opportunities for career development. They provide training programs and encourage employees to take on new challenges.

The company also supports a culture of innovation, allowing staff to work on cutting-edge financial technology projects.

Where is the Airwallex headquarters located?

Airwallex's global headquarters is in Melbourne, Australia. However, they have offices in several other countries as well.

These international offices help Airwallex serve customers across different time zones and understand local market needs better.

Who founded Airwallex and currently owns it?

Airwallex was founded by Jack Zhang, Lucy Liu, Max Li, and Xijing Dai in Melbourne in 2015. The company started as a solution to help businesses make international payments more efficiently.

Today, Airwallex is privately owned, with the founders still playing key roles in the company. It has also received investments from various venture capital firms.