Airwallex, a leading global payments and financial platform for modern businesses, today announced a partnership with BILL (NYSE: BILL), a leading financial operations platform for small and midsize businesses (SMBs), to provide Airwallex’s local transfer capabilities as part of BILL’s payments offerings.
BILL will offer its customers faster payment speed with the option to deliver payments same-day or next-day in local currencies through Airwallex.
SMBs require choice and speed to go global
SMBs are increasingly transacting with employees, vendors, partners, and customers around the world. With access to fast cross-border payment options, SMBs can more efficiently manage their business. Transactions delivered directly to local banks abroad through Airwallex’s proprietary global infrastructure unlock the ability to pay ‘like a local’ from anywhere in the world. Businesses can pay their vendors much faster, and in their local or preferred currency, without intermediary bank fees.
“International payment processes have historically relied on manual, bank-facilitated wire transfers, which can be slow, expensive, or inconsistent due to the involvement of intermediary third-party banks,” said Ravi Adusumilli, Executive General Manager, Americas, Airwallex. “There is a growing demand for agile and embedded global payment infrastructure built on local rails, unlocking speedier payments that arrive on time and as expected. We are excited to help BILL remove complexity for SMBs and their vendors so that they can make fast and efficient payments around the globe.”
“For SMBs looking to work more efficiently and scale, the ability to make frictionless and timely international payments is a strategic advantage,” said Irana Wasti, BILL Chief Product Officer. “By adding Airwallex’s local transfer capabilities to our robust financial operations platform and flexible payments offerings, we will provide more choice, capability, and faster speed for international payments. BILL continually drives innovation in our payment experiences to help SMBs succeed both locally and globally.”
Airwallex’s modernized tech stack will enable BILL customers to schedule FX conversions and payouts at the ideal timing and cadence for the end customer, allowing them to automatically process and reconcile international bill payments at scale.