Airwallex is pleased to announce that it has launched multi-currency physical corporate cards in Singapore, available for all Singapore-based businesses. Airwallex’s physical cards complement its existing suite of virtual and digital wallet-supported corporate cards released in Singapore earlier in May this year.
With its virtual financial products, customers enjoy various benefits. For instance, Singapore-based companies can instantly create and issue free virtual multi-currency debit cards to make transactions with vendors and online third parties, paying in over 140 different currencies at favourable exchange rates with zero international transaction fees. Moreover, the card creation process is fast, convenient, and secure, enabling companies to conduct business globally with ease and confidence.
To empower businesses of all sizes to accept payments, move money internationally, and simplify their financial operations all in one single platform, Airwallex continues to enhance its card functionality by enabling the use of physical cards in Singapore. With this product, customers using Airwallex cards to pay for business flights and hotels can now extend that use and pay for other travel expenses while overseas, especially for Point of Sales (POS) transactions.
Local businesses can create and issue up to 50 free Airwallex physical and virtual corporate cards as needed at the touch of a button. They can entrust and empower employees to spend in multiple currencies without transaction fees and track expenses in the web app. Consequently, businesses will be further empowered when making everyday financial transaction decisions.
Airwallex’s partnership with Agoda for travel promotion
Along with launching its physical cards, Airwallex has partnered with Agoda to offer up to 7+1% cashback for applicable hotel bookings made on the travel platform. Specifically, Singapore-based businesses with valid Airwallex employee cards can enjoy a 7% discount on eligible accommodation transactions and 1% cash back for any transactions made on Agoda. The 7% discount will be applied automatically during booking on Airwallex’s affiliate site on Agoda. The additional 1% cashback will be credited to the customer’s Airwallex account, following the promotional cashback schedule.
Airwallex is also extending this 1% cashback on all other local and international transactions without limit.
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The partnership is timely as business travel has picked up, with most countries easing their COVID-19 travel restrictions and businesses resuming their operation under the new normal. A recent Business Travel Recovery Poll by the Global Business Travel Association expects business travel to continue its recovery, with a strong outlook set for 2023. Even as businesses continue to embrace new ways of working, with hybrid or remote work policies, almost three-quarters of all respondents do not expect their employees’ business trips to be impacted.
According to Deloitte, the opportunity to conduct sales meetings, strengthen client relationships, and network at conferences in person was listed as being among the top purposes for the comeback of business travel.
Additionally, a key finding from a separate study — the 2023 Global Business Travel Forecast by CWT – revealed that business travellers can expect to see price increases for airfares (8.4%) and hotel rates (8.2%) in 2023. Therefore, by using Airwallex’s corporate cards to book business travel accommodations on Agoda, companies can maximise cost savings even as employees travel for work.
Empowering businesses to grow across borders
Airwallex was founded in Melbourne, Australia, in 2015 by engineering-banking friends Jack Zhang, Max Li, Lucy Liu, and Xijing Dai to empower businesses of all sizes to accept payments, move money globally, and simplify their financial operations, all in one single platform. Its purpose is to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world.
The company has a global footprint across Asia-Pacific, Europe, and North America, with over 1,300 employees across 19 global locations. Airwallex also recently raised US$100 million in its Series E2 financing round, increasing its total funding to over US$900 million.
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Airwallex made its official debut in Singapore in January 2022 after securing a licence from the Monetary Authority of Singapore in 2021. Accordingly, Singapore businesses can start experiencing Airwallex’s offerings, including global account issuance, multi-currency wallets, and online payment acceptance, among others.
Airwallex’s strong growth in Singapore
The launch of Airwallex’s physical corporate cards and partnership with Agoda is another step towards a full rollout of Airwallex’s suite of money movement offerings in Singapore. Since its expansion into the Singaporean market, the company has engaged directly with businesses at trade shows and events like the Singapore Fintech Festival, Singapore Business Show, and Accounting & Finance Show to share how Airwallex can support and empower them.
Airwallex has also partnered with Google Ads and EasyParcel on campaigns to share how its product suite can support the business community in Singapore. Furthermore, Airwallex recently announced its collaboration with buy now pay later (BNPL) provider Atome to allow its merchants to offer BNPL as a payment option to shoppers across Singapore, Hong Kong, Malaysia, and Indonesia.
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The Airwallex x Agoda travel promotion deal has gone live and will be available until 31 Dec 2023. Hence, to take advantage of the opportunity, businesses are encouraged to sign up with Airwallex to receive either the virtual corporate card or the newly launched physical cards and enjoy all the perks when booking with Agoda. The earlier businesses take advantage of this promotion, the more cost savings they can enjoy!
Sign up for the offer here.
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This article is produced by the e27 team, sponsored by Airwallex
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