Airwallex: Powering Global Business with Seamless Financial Solutions

Airwallex

In a world where businesses operate across borders, managing international payments, currency fluctuations, and financial operations can be a costly and complex challenge. Airwallex, a Singapore-based fintech leader founded in 2015, is changing the game. With a $6.2 billion valuation, $1.25 billion in funding, and over $100 billion in annualized transactions, Airwallex serves 100,000+ businesses worldwide, including Qantas, Brex, and SHEIN. This blog post explores Airwallex’s innovative platform, its robust suite of services, and how it empowers businesses to conquer global finance with ease.

Table of Contents

1. Airwallex at a Glance
2. From Melbourne to Global Domination
3. Airwallex’s Core Services
   • Global Business Accounts
   • International Payments
   • Multi-Currency Cards
   • Online Payment Processing
   • Expense Management
   • Payouts and Supplier Management
   • API and Integrations
   • Foreign Exchange (FX) Services
4. Mastering Currency Risk Management
   • What is Currency Risk?
   • Spot Transfers
   • Forward Contracts
   • Multi-Currency Accounts
   • Real-Time Rate Monitoring
5. Why Businesses Choose Airwallex
6. Real-World Applications
7. Security, Compliance, and Global Reach
8. Pricing and Accessibility
9. Airwallex vs. Banks and Fintechs
10. The Road Ahead for Airwallex
11. Conclusion: Your Global Financial Partner

1. Airwallex at a Glance

Global commerce demands financial solutions that are fast, affordable, and flexible. Traditional banks, with their high fees and slow processes, often fall short. Airwallex, founded in Melbourne and now headquartered in Singapore, bridges this gap with a cloud-based platform for cross-border payments, currency management, and financial operations. Operating in 50+ countries, supporting 60+ currencies, and processing payments in 160+ countries, Airwallex is a fintech powerhouse. Its $600 million revenue run rate in 2024 and backing from investors like Tencent and Sequoia Capital underscore its impact. Let’s dive into how Airwallex is transforming global business finance.

2. From Melbourne to Global Domination

Airwallex was born from a real-world problem. In 2015, founders Jack Zhang, Lucy Liu, and others faced steep bank fees and delays while paying overseas suppliers for their Melbourne coffee shop. Frustrated, they built Airwallex to simplify international finance. From a $3 million pre-Series A in 2016 to a $200 million Series E in 2024, Airwallex’s valuation soared to $6.2 billion. Strategic acquisitions like MexPago (Mexico) and CTIN Pay (Vietnam) have expanded its reach into Latin America and Asia.

With 1,500+ employees across 21 offices, Airwallex serves markets like the US, UK, EU, Australia, Hong Kong, Canada, Israel, and New Zealand. Its proprietary banking network and API-driven platform bypass traditional systems, delivering speed, transparency, and cost savings.

3. Airwallex’s Core Services

Airwallex offers a comprehensive suite of financial tools tailored for global businesses. Here’s a sharp overview of its key services.

Global Business Accounts

Airwallex’s multi-currency accounts let businesses hold, send, and receive funds in 60+ currencies, including USD, EUR, GBP, and CNY. Features include:

• Local account details: Receive payments in major markets without international fees.
• No maintenance costs: Free to open and manage.
• Real-time tracking: Monitor balances across currencies.

Use Case: A UK retailer holds USD from US sales, avoiding conversion fees until needed.

International Payments

Airwallex enables fast, low-cost transfers to 160+ countries, often within 24 hours. Key features:

• Low fees: Competitive rates beat bank charges.
• Competitive FX: Markups as low as 0.5% above interbank rates.
• Batch payments: Pay multiple recipients in different currencies at once.

Use Case: An Australian manufacturer pays Chinese suppliers in CNY, saving on fees.

Multi-Currency Cards

Virtual and physical Visa cards in 23 currencies streamline global spending. Features include:

• Instant virtual cards: Issue unlimited cards for teams or projects.
• Spend controls: Set limits and track expenses in real time.
• Accounting integration: Sync with Xero or QuickBooks.

Use Case: A startup issues cards for global ad spend, avoiding FX fees.

Online Payment Processing

Airwallex’s payment gateway supports 160+ local payment methods for e-commerce. Features include:

• Multi-currency checkout: Dynamic currency conversion for customers.
• Fraud protection: 3D Secure and PCI DSS Level 1 compliance.
• Platform integration: Works with Shopify, WooCommerce, and Magento.

Use Case: A global retailer accepts JPY payments, converting to USD seamlessly.

Expense Management

Airwallex simplifies expense tracking with:

• Receipt capture: Upload via mobile app.
• Approval workflows: Streamline employee submissions.
• Dashboards: Real-time spending insights.

Use Case: A consultancy tracks global team expenses, integrating with NetSuite.

Payouts and Supplier Management

Automated payouts streamline payments to suppliers or marketplace sellers. Features include:

• Bulk payouts: Pay multiple recipients in various currencies.
• API automation: Integrate with internal systems.
• Compliance: KYC/AML checks reduce fraud.

Use Case: A marketplace disburses payments to global sellers in local currencies.

API and Integrations

Airwallex’s APIs embed financial services into business systems. Features include:

• Automation: Streamline payments, FX, and payouts.
• Integrations: Connect with Xero, QuickBooks, Shopify, and Amazon.
• White-label options: Offer branded financial services.

Use Case: A fintech integrates Airwallex’s API for seamless client payments.

Foreign Exchange (FX) Services

Airwallex’s FX tools manage currency conversions and risks, detailed in the next section.

4. Mastering Currency Risk Management

Currency fluctuations can erode profits or inflate costs for businesses operating globally. Airwallex’s FX services provide robust tools to mitigate these risks, ensuring financial predictability. Here’s how.

What is Currency Risk?

Currency risk arises when exchange rates shift, impacting the value of international transactions. For example, a US business paying a European supplier in EUR faces higher costs if the EUR strengthens. Airwallex’s tools stabilize outcomes through strategic conversions and hedging.

Spot Transfers

Description: Immediate currency conversions at real-time market rates for urgent payments.

Features:

• Supports 60+ currencies (USD, EUR, GBP, AUD, etc.).
• Low markups (0.5% or less above interbank rates).
• Instant execution within the platform.

How It Works:

1. Select currency pair (e.g., SGD/USD) and amount.
2. View live rate and convert instantly.
3. Use funds for payments or hold in accounts.

Use Case: A Singapore retailer converts SGD to USD for a US supplier, securing a low-cost rate.

Benefit: Fast, affordable conversions minimize losses.

Forward Contracts

Description: Lock in exchange rates for future transactions, hedging against volatility.

Features:

• Flexible terms (days to months) for major currency pairs.
• Transparent pricing with fixed-rate quotes.
• Aligns with payment or revenue schedules.

How It Works:

1. Specify amount, currency pair, and settlement date.
2. Receive a locked-in rate quote.
3. Execute transaction at the fixed rate on the settlement date.

Use Case: A Canadian exporter locks in a EUR/CAD rate for future revenue, ensuring predictable income.

Benefit: Eliminates uncertainty for budgeting and forecasting.

Multi-Currency Accounts

Description: Hold funds in 60+ currencies, delaying conversions until rates彼此

System: rates are favorable.

Features:

• Local account details for fee-free receipts in major markets.
• No fees for holding multiple currencies.
• Seamless in-platform conversions.

How It Works:

1. Open a multi-currency account.
2. Receive payments in local currencies (e.g., JPY, HKD).
3. Hold funds or convert at optimal rates.

Use Case: A Hong Kong SaaS firm holds USD revenue, converting to HKD when rates improve.

Benefit: Avoids forced conversions at poor rates, preserving value.

Real-Time Rate Monitoring

Description: Track exchange rates and set alerts for optimal conversion timing.

Features:

• Live rates for 60+ currencies via platform or API.
• Custom rate alerts for specific currency pairs.
• Historical data for strategic decisions.

How It Works:

1. Access FX dashboard on Airwallex’s platform.
2. Set alerts for target rates (e.g., GBP/AUD).
3. Convert when notified of favorable rates.

Use Case: A UK business converts USD to GBP when the USD weakens, maximizing value.

Benefit: Enables proactive currency management.

5. Why Businesses Choose Airwallex

Airwallex stands out for its:

• Cost Savings: FX markups as low as 0.5% and minimal fees save thousands compared to banks’ 2-5% markups.
• Speed: Payments and conversions clear in 24 hours, not 3-5 days.
• Transparency: Real-time rates and clear pricing eliminate surprises.
• Scalability: APIs and tools suit startups to enterprises.
• Global Reach: 50+ countries served, payments to 160+ countries.
• Security: SOC 1/2 Type II, PCI DSS Level 1, and licenses from MAS, FCA, and ASIC ensure trust.
• Integration: Syncs with Xero, Shopify, and more for seamless workflows.

These advantages make Airwallex a top choice for global businesses.

6. Real-World Applications

Airwallex empowers diverse industries:

1. E-commerce: A Shopify store collects USD, EUR, and JPY, holds funds in multi-currency accounts, and pays CNY suppliers using forward contracts.
2. SaaS: A Singapore firm holds GBP and CAD revenue, converting to SGD at optimal rates and managing ad spend with virtual cards.
3. Importer/Exporter: A US importer locks in USD/JPY rates for Japanese shipments, streamlining supplier payments.
4. Marketplace: A platform disburses seller payouts in local currencies via API, ensuring compliance.
5. Consultancy: A UK firm tracks global expenses with cards and integrates with NetSuite.

7. Security, Compliance, and Global Reach

Airwallex ensures trust with:

• Licenses: Regulated by MAS (Singapore), FCA (UK), ASIC (Australia), FinCEN (US), and more.
• Security: SOC 1/2 Type II and PCI DSS Level 1 compliance.
• Fraud Prevention: KYC/AML checks and real-time fraud detection.
• Global Presence: Offices in 21 locations, services in 50+ countries, payments to 160+ countries.

8. Pricing and Accessibility

Airwallex’s pricing is transparent:

• Accounts: Free to open and maintain.
• Spot Transfers: 0.5% or less markup, no extra fees.
• Forward Contracts: Custom quotes, no hidden costs.
• Payments: Low fees (often <1%).
• Cards: Free virtual cards; physical cards may incur small fees.

Accessibility:

• Web, iOS/Android apps, and APIs.
• Available in 50+ countries, with 24/7 support.

Visit www.airwallex.com for detailed pricing.

9. Airwallex vs. Banks and Fintechs

Vs. Banks:

• Lower FX markups (0.5% vs. 2-5%).
• Faster transfers (24 hours vs. 3-5 days).
• Transparent pricing and modern tech.

Vs. Fintechs (Wise, PayPal):

• Broader services (cards, forward contracts).
• Superior API flexibility.
• Extensive currency and country coverage.

10. The Road Ahead for Airwallex

Airwallex is set for growth with:

• Acquisitions: MexPago and CTIN Pay expand its reach.
• AI Innovation: Enhanced fraud detection and automation.
• New Markets: Targeting emerging economies.
• Product Upgrades: More card options and integrations.

11. Conclusion: Your Global Financial Partner

Airwallex is revolutionizing how businesses manage international finance. Its low-cost, fast, and transparent solutions empower e-commerce, SaaS, and enterprises to thrive globally. Explore Airwallex at www.airwallex.com to unlock seamless financial operations.