Airwallex, a Hong Kong-based financial services company, has partnered with Visa to launch Airwallex Borderless Card for businesses. The card was launched in Pause Fest 2020 and will debut in the Australian market. This will be later rolled out in other locations including Hong Kong and the United Kingdom.
Airwallex Borderless Card gives customers the ability to pay their suppliers within seconds thus saving business time and money. The collaboration with Visa offers secure, cross border payments in multiple currencies with Airwallex’s competitive foreign exchange rates.
The Airwallex Borderless Card will be released in two phases in which the first phase will enable customers in Australia to instantly generate and issue multi-currency virtual payment cards to pay suppliers in seconds and make payments to merchants globally where Visa is accepted. While in the second phase which will come in Q2 2020, the company will introduce multi-currency corporate cards for business owners and their employees. The corporate card will be issued in the physical form initially and will be available in virtual form in Q2 2020 via digital wallets and Airwallex corporate card mobile app.
“Today, cross-border B2B payments remain a cumbersome and costly affair, which can impact small businesses and corporates who are time-starved and need to keep a close eye on their cashflow. This is why we are excited to partner with Airwallex to help businesses make seamless, secure and convenient international payments, all linked to a Visa account,” said Regional President of Asia Pacific at Visa Chris Clark.