Airwallex has announced the launch of its Global Accounts for collections, alongside its Convert and Pay capabilities in Europe. The capabilities will be embedded into Airwallex’s intuitive Web App, enabling UK SMEs to collect funds in euros throughout the European Economic Area with local bank details, and send funds to businesses in over 130 countries.

Using the Web App, businesses will also be able to access the interbank exchange rate with transparent and low-cost fees, meaning they reduce their overheads when it comes to transactions abroad. The platform has been built to support businesses looking to expand by offering a scalable solution that is able to process, monitor and control thousands of transactions simultaneously through a digital first approach.

Businesses can access Global Accounts for collections and Airwallex’s Convert and Pay capabilities by signing up online, and can start transacting as soon as the Airwallex onboarding team has approved them. This will mean they can expand to new markets quicker, in line with their growth ambitions, while the speed of cross-border transactions will also increase, improving cash flows.

Once signed-up, customers gain access to the online dashboard that acts as the control centre for all international payments. From the dashboard, customers are able to analyse historic and real-time data to make crucial business decisions on their overseas business activity.