Airwallex announced the launch of its Global Accounts for collections alongside its Convert and Pay capabilities in Europe.
The newly launched 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, available here: https://www.airwallex.com/uk/globalaccount/, businesses will also be able to access the interbank exchange rate with completely 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 completely scalable solution that’s 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 simply signing up online, and can start transacting as soon as they have been approved by the Airwallex onboarding team. 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 which 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. This control is essential for businesses looking to expand internationally.
Airwallex’s Global Accounts are already available for SMEs across the APAC region, with thousands of businesses using the platform to collect funds overseas and pay their international suppliers in over 130 countries.
Lucy Liu, President and Co-Founder, Airwallex, said: “We’re passionate about supporting businesses with their global growth ambitions, and we’re really excited about bringing these new capabilities to our European market, to support UK businesses as they build their operations overseas.
“Expanding into new markets can be complex and we’ve identified a real need for our Global Account product amongst SMEs. By utilising the latest technology to build scalable, end-to-end solutions for businesses, we will allow them to take full control of their international payments.”
Founded in Melbourne (Australia) in 2015, Airwallex has grown from an emerging start-up to a global challenger in the cross-border payment space. In April this year, Airwallex confirmed its unicorn status following successful series C funding of $100m USD, leading to a valuation at more than $1bn USD.