Cross-border payments firm Airwallex has partnered with New Zealand based cloud-based business platform Xero to empower Airwallex’s small-to-medium business clients to reconcile their domestic and international payments seamlessly.
The integration will allow SME clients to monitor and connect their multi-currency financial transactions in Airwallex to Xero and allow them to view daily updates through Xero’s bank feed. Clients will also have full visibility of their Airwallex funds within Xero’s software interface to monitor their performance and financial position.
“Small businesses do not have the time or resources to manage multiple technology solutions that often operate in silos – they need solutions to work and integrate with each other seamlessly. This is even more imperative when it concerns their multi-currency financial reporting as there is no room for errors,” said CEO and Co-founder of Airwallex Jack Zhang.
Currently, Airwallex offers clients the ability to access interbank foreign exchange rates on international payments and transaction and also enables them to easily open accounts in the US, UK and EU on its network. The Airwallex and Xero integration is currently available in Australia and will follow in the UK and Hong Kong in the latter part of the year.
“As more small businesses enter overseas markets, it’s important that their multi-currency payments flow seamlessly in Xero and are automatically reconciled. This integration with Airwallex will ensure our mutual customers spend less time on administrative tasks and more on what’s important to them — running their business,” said Financial Industry Director at Xero Ian Boyd.