Airwallex has rolled out virtual Visa cards in Canada
to facilitate payments among businesses in the region. The global payment
platform is issuing the cards, dubbed Airwallex Borderless Card, in partnership
with Peoples Trust Company. According to the press release, the new offering
enables Canadian businesses to fund transactions in multiple currencies.
Ravi Adusumilli, the Executive General Manager for
Americas at Airwallex, mentioned: “Operating across borders is
table-stakes for modern businesses, whether it’s paying a supplier overseas or
managing employee expenses for international travel.”
“With the Airwallex Borderless Visa Card,
Canadian businesses gain flexibility and control to fund their card
transactions in multiple currencies, making seamless, low-cost, international
payments possible in a matter of seconds.”
🇨🇦 Our Airwallex Borderless @Visa Cards are officially available in Canada! 🇨🇦
Learn more about our Airwallex Borderless Card here 👇https://t.co/bMr6LSxhre #BusinessBeyondBorders #fintech pic.twitter.com/UnHU9EpzHz
— Airwallex (@airwallex) April 10, 2024
Traditional business card solutions often impose high
foreign exchange costs when used for international transactions. To address
this challenge, the Airwallex Borderless Cards will allow users to generate and
issue virtual cards directly from their Airwallex multi-currency wallet.
This process eliminates unnecessary FX conversion
fees, providing businesses with a cost-effective solution for global spending.
Additionally, the cards are integrated with Airwallex’s Expense Management
offering.
Integrated Expense Management
This integration enables firms to simplify expense
reporting processes, upload receipts, and manage approvals. On the platform,
businesses can access a unified view of expenses across all currencies and
accounts.
Airwallex plans to expand the virtual cards to include
Apple Pay, Google Pay, and physical multi-currency payment cards. Since its
entry into the Canadian market in April 2023, Airwallex has been expanding its
operations across the Americas. Last year, Airwallex acquired MexPago, a payment service provider in Mexico. The acquisition marked its entrance into the booming Latin American market.
We’re excited to announce an agreement to acquire MexPago, a Mexico-based payment service provider.
Learn more here: https://t.co/lBuiHcurKq
[The transaction is subject to regulatory approvals and customary closing conditions] pic.twitter.com/xsvbraqxm0
— Airwallex (@airwallex) October 20, 2023
Speaking about the acquisition, Adusumilli said: “Our exceptional growth in the Americas reflects a strong demand for seamless financial solutions that empower businesses to operate globally. With MexPago, we’re well-positioned to become the leading platform for international business transactions.”
Airwallex has rolled out virtual Visa cards in Canada
to facilitate payments among businesses in the region. The global payment
platform is issuing the cards, dubbed Airwallex Borderless Card, in partnership
with Peoples Trust Company. According to the press release, the new offering
enables Canadian businesses to fund transactions in multiple currencies.
Ravi Adusumilli, the Executive General Manager for
Americas at Airwallex, mentioned: “Operating across borders is
table-stakes for modern businesses, whether it’s paying a supplier overseas or
managing employee expenses for international travel.”
“With the Airwallex Borderless Visa Card,
Canadian businesses gain flexibility and control to fund their card
transactions in multiple currencies, making seamless, low-cost, international
payments possible in a matter of seconds.”
🇨🇦 Our Airwallex Borderless @Visa Cards are officially available in Canada! 🇨🇦
Learn more about our Airwallex Borderless Card here 👇https://t.co/bMr6LSxhre #BusinessBeyondBorders #fintech pic.twitter.com/UnHU9EpzHz
— Airwallex (@airwallex) April 10, 2024
Traditional business card solutions often impose high
foreign exchange costs when used for international transactions. To address
this challenge, the Airwallex Borderless Cards will allow users to generate and
issue virtual cards directly from their Airwallex multi-currency wallet.
This process eliminates unnecessary FX conversion
fees, providing businesses with a cost-effective solution for global spending.
Additionally, the cards are integrated with Airwallex’s Expense Management
offering.
Integrated Expense Management
This integration enables firms to simplify expense
reporting processes, upload receipts, and manage approvals. On the platform,
businesses can access a unified view of expenses across all currencies and
accounts.
Airwallex plans to expand the virtual cards to include
Apple Pay, Google Pay, and physical multi-currency payment cards. Since its
entry into the Canadian market in April 2023, Airwallex has been expanding its
operations across the Americas. Last year, Airwallex acquired MexPago, a payment service provider in Mexico. The acquisition marked its entrance into the booming Latin American market.
We’re excited to announce an agreement to acquire MexPago, a Mexico-based payment service provider.
Learn more here: https://t.co/lBuiHcurKq
[The transaction is subject to regulatory approvals and customary closing conditions] pic.twitter.com/xsvbraqxm0
— Airwallex (@airwallex) October 20, 2023
Speaking about the acquisition, Adusumilli said: “Our exceptional growth in the Americas reflects a strong demand for seamless financial solutions that empower businesses to operate globally. With MexPago, we’re well-positioned to become the leading platform for international business transactions.”
