Following their global strategic partnership with Visa in February 2020, Airwallex has officially launched the Airwallex Borderless Card, a virtual multi-currency Visa business debit card to Singapore customers to facilitate businesses with easy online card payments anywhere that Visa is accepted.
According to a press statement, companies can now transact in more than 140 currencies and instantly generate and issue virtual multi-currency business debit cards to promptly pay third parties, such as vendors and other online merchants, with Airwallex's market-leading foreign exchange rates, wherever Visa cards are accepted.
"We've seen many of our global customers benefit from our cards offering, including significant cost savings on USD Software as a Service (SaaS) card spend and international transfer fees,” said Arnold Chan, Airwallex's Head of Growth for Singapore.
“We are so pleased that we can now offer Singapore businesses all the same benefits, providing them with greater flexibility and control over their cross-border card payments.
On top of the Borderless Card, the Hong Kong-based fintech has also unveiled its Expenses solution in Singapore that will enable businesses to to streamline their expense processes with a single integrated platform to manage spending, seamlessly upload receipts for approval, reconcile expenses, and gain real-time visibility over card transactions.
"Today's virtual cards and expenses launch is another significant step towards a full rollout of our global payments offerings in Singapore. We strive to become an integral one-stop shop for any Singapore business requiring support with business finances across the entire transaction lifecycle, and by doing so, empower them to manage and grow both their local and global operations exponentially," added Arnold.
Kunal Chatterjee, Visa Country Manager for Singapore & Brunei, shared Visa’s elation in partnering with Airwallex to introduce virtual cards with multicurrency capabilities in Singapore and help businesses make cross-border payments and enjoy competitive foreign exchange rates.
Over the coming months, Airwallex plans on expanding its card functionality, including enabling physical cards for business owners and for their employees' work expenses, and digital wallet integration, further empowering them to make everyday business purchase decisions.