What is Airwallex? Airwallex Review, Features

Airwallex is a fintech company dedicated to building a digital global financial infrastructure and providing intelligent and seamless cross-border payment solutions. Its business scope includes collection, payment and multi-currency exchange in cross-border transactions. Its services include cross-border e- commerce, online travel, logistics, education and study abroad, financial institutions, digital marketing, online entertainment and other customers.

About Airwallex

Airwallex was founded in Melbourne, Australia in 2015 and is headquartered in Hong Kong, China. As a globally deployed financial technology company, it has offices in more than ten countries and regions in Asia Pacific, Europe and North America, with business capabilities covering more than 130 countries and regions and more than 50 currencies. Airwallex helps companies build their own financial ecosystem through its one-stop cross-border payment service, greatly optimizing cross-border payment costs while accelerating the expansion of its global business.

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1. Global payment collection

In terms of global payment collection, Airwallex provides enterprises with real-name multi-currency accounts, which facilitates reconciliation and financial control, simplifies fund management, and helps enterprises quickly enter new markets. At the same time, the company's customers can freely choose currencies and payment methods, eliminating unnecessary cross-border transaction fees.

2. Currency exchange

Currency exchange is a specialty business of Airwallex. Airwallex uses real-time foreign exchange market making, supplemented by big data and risk control models, to reduce the impact of exchange rate fluctuations, obtain the world's best real-time quotes, and ensure a stable trading environment in all time zones.

3. International Payments

In terms of global payments, Airwallex has launched an international payment service that supports same-day and full-amount payment. Enterprises can choose between Web app client and API to achieve efficient and automated batch payment processing, and can handle more than a thousand transactions per second.

4. Scale

Airwallex can also provide integrated payment solutions for global platform-based enterprises. In early 2019, Airwallex launched Scale, an integrated payment product for platform-based customers, which provides intelligent APIs to help customers connect to existing financial payment systems and centrally manage upstream and downstream partners and customers. Whether it is buyers, sellers, customers or suppliers, Scale can incorporate them into a unified platform system with the enterprise as the core, process collection, exchange, transfer and payment in a standardized manner, realize automatic and seamless flow of funds, and improve the overall user experience of the enterprise platform.

5. Global acquiring

Airwallex provides localized acquiring solutions covering the world, and offers multiple payment methods worldwide. It supports VISA, Masterard, and WeChat acquiring, supports RMB withdrawals into the country, and relies on independently developed exchange rate products to help customers control the foreign exchange risks of cross-border business.

6. “Boundless” Virtual Card

As VISA's global strategic partner and global master card institution, Airwallex has launched a "borderless" virtual card product that generates virtual cards in real time on demand. Enterprises can complete multi-currency payments in seconds, and support querying various transaction records, dynamically managing limits, setting account expenses and reconciliation. It will be bound to the Airwallex "electronic wallet", support API direct connection, and realize multi-currency payments in batches. Combined with Airwallex's advantages in exchange rates, the "borderless" virtual card can further help enterprises save cross-border payment costs and provide enterprises with a one-stop cross-border payment solution.

Connection

Airwallex offers two easy ways to connect:

1. API: Seamlessly connect to existing infrastructure and automate the entire set of foreign exchange, payment and collection steps;

2. Online platform: provides global access to your account and provides an overview of your trading activities.

Advantages

● Multi-platform: supports payment collection on Amazon North America, Europe, the United Kingdom, Australia, and Japan, as well as Shopify, eBay, etc., and also supports payment collection from PayPal.

● Multiple currencies: USD, GBP, EUR, JPY, AUD, etc.

● Multiple stores: One main account can set up multiple currency accounts. One currency account can generate different collection accounts for collecting payments from multiple stores. The accounts are independent to prevent association.

● Full chain: one-stop service for collection, currency exchange, and cash withdrawal, and also supports payments to suppliers at home and abroad, such as VAT payment.

Development History

-Airwallex was founded in Australia in 2015 and is headquartered in Hong Kong.

-In July 2016, Airwallex received US$3 million in Pre-A round of financing.

-In May 2017, Airwallex received tens of millions of dollars in Series A funding, led by Tencent.

-In December 2017, Airwallex received a total of US$6 million in Series A+ investment from Square Peg Capital.

-In July 2018, Airwallex completed a US$80 million Series B financing round led by Tencent and Sequoia Capital China.

-In March 2019, Airwallex received US$100 million in Series C funding, led by DST Global.

-In June 2019, Airwallex became Shopify's global officially certified payment service provider.

-In April 2020, Airwallex completed a US$160 million Series D financing round, led by Tencent, and also introduced a group of new global top strategic investors such as ANZi Ventures (the strategic investment institution of Australia and New Zealand Banking Group) and Salesforce Ventures (the global investment department of Salesforce).

-In July 2020, Airwallex announced that Alibaba Entrepreneurs Fund participated in the D+ round of financing as a new investor.