Available to all Airwallex customers in Singapore, the Airwallex Borderless Card is a virtual multi-currency Visa business debit card that enables businesses to easily online card payments anywhere that Visa is accepted. Singapore-based companies can now generate and issue virtual multi-currency business debit cards to pay third parties, such as vendors and other online merchants, with Airwallex’s foreign exchange rates, wherever Visa cards are accepted. These virtual cards will enable Singapore businesses to transact in more than 140 currencies and expand into new markets.
In addition to the Borderless Card, Airwallex is also launching its Expenses solution in Singapore. Singapore businesses will be able to improve their expense processes with a single integrated platform to manage spending, upload receipts for approval, reconcile expenses, and gain real-time visibility over card transactions.
Airwallex and Visa first announced their global strategic partnership in February 2020, and have since introduced the Airwallex Borderless Card to businesses in Australia, Hong Kong, United Kingdom, Europe, and the United States.
Over the coming months of 2022, 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 enabling them to make everyday business purchase decisions.
Airwallex was founded in Melbourne in 2015, and since then, the company has secured more than USD 800 million in funding and a valuation of USD 5.5 billion. The Airwallex group currently serves tens of thousands of customers across all the markets it operates in, including global brands such as Qantas, Papaya Global, and Plum.