Airwallex May release notes

Business Account

Streamline your finances with Airwallex’s QuickBooks Bank Feeds integration 🚀

We're excited to announce that Airwallex now connects seamlessly with QuickBooks Online for bank feeds globally, with Canada and EU/UK coming soon. Customers can now seamlessly sync their Airwallex transactions across all currencies to Quickbooks eliminating tedious data entry and speeding up their reconciliation process. Customers can automatically import and categorize transactions from Airwallex into Quickbooks’ chart of accounts. Once imported, customers simply review and approve to complete reconciliation. 

This launch enhances our existing Expenses and Bills integration with Quickbooks, which enables customers to sync their expense management and bill pay workflows. Learn more about the Bank Feeds integration here and Expenses and Bills integration here. 

Receive funds in multiple currencies through a single Global Account ✅

We have exciting news for our customers looking to open Global Accounts in Denmark, Hong Kong, and Singapore. Managing your international finances got a whole lot easier. You can now receive funds in multiple currencies with just one Global Account.

This eliminates the need to juggle multiple Global Accounts and separate banking details, saving you time and reducing costs. Existing customers with applicable Denmark and, Singapore Global Accounts will be automatically upgraded to support these new currencies; or simply create new Global Accounts  For customers using Standard Chartered Bank GAs who want multi-currency functionality for Hong Kong Global Accounts, simply contact us for a quick routing configuration change. 

This multi-currency feature is a major step forward, making our customers' international business transactions smoother and more efficient than ever before. 

Faster and more simplified payouts in the US 🕒

We've got some exciting updates to make your US financial management even smoother.

• Timely settlements: For US customers, newly created USD global accounts can now enjoy more frequent settlements throughout the day for both deposits and Direct Debit transactions.

• Simplified ACH Direct Debit: All customers can now authorize ACH direct debit from their Airwallex USD wallet using your newly created US Global Account, with no monthly fees

• US payments with your name on them: For non-US customers sending local US payments, your recipients will now see your business name instead of Airwallex, adding a professional touch to your transactions. This feature is already enabled for all US customers.

These improvements streamline your US payment experience, saving you time and money. 

Expanded local payout coverage in Canada and Switzerland 🇨🇦 🇨🇭

Great news for our customers doing business in Canada and Switzerland. We've expanded local payment options to simplify your business operations.

Canada:

• Send money to Canadian recipients instantly via Interac e-Transfer: Businesses can now make instant transfers in CAD using just a recipient's email or phone number. Learn more about Canada Interac e-Transfer.

• Pay your Canadian bills with ease. We’ve now provided Bill Payment as a transfer method that lets you conveniently settle payments with a network of local Canadian billers directly through Airwallex. 

Switzerland:

• Same-day transfers to Switzerland via Swiss Interbank Clearing (SIC): Now you can effortlessly and instantly send CHF payments within Switzerland. 

These enhancements streamline your local payments in both Canada and Switzerland, saving you valuable time and effort. Get ready to experience a more efficient way to manage your finances.

Enhanced security and fee-free deposits for Hong Kong customers ✅

We've made some exciting changes to how you add funds to your Hong Kong Airwallex account, making it more secure and convenient. After onboarding, you'll now receive a dedicated Multi-Currency Global Account under your business name for adding funds. This not only increases transparency but also reduces the risk of adding funds to the wrong account. 

Finally, we've replaced micro-deposits with a more secure verification method – linking your bank accounts. This helps us protect your account and manage risk. These improvements streamline your experience and ensure a safer way to manage your finances with Airwallex. Learn more here.

Streamlined cancelled transfers with transparent FX & automatic refunds ↔️

We've made managing your Airwallex transfers even more flexible and transparent. Here's what's new:

• Businesses can now choose refund currency: You can now decide whether to receive refunds for cancelled transfers in the original currency you paid or the currency the recipient gets. 

• Faster & automatic refunds: Refunds are now automatic and instant, simplifying your reconciliation process.

• Higher transparency in FX gains/losses: For cancelled transfers with currency conversion, any FX gain or loss due to market fluctuations will be reflected in your Wallet Transactions as a separate fee. This provides greater transparency and simplifies your account management.

These improvements give you more control, faster processing, and clearer insights into your Airwallex transfers. Existing WebApp users have already been automatically upgraded, and new customers will experience these benefits from the start. API customers can contact their Account Manager to upgrade to this new experience. Get ready for a smoother and more transparent way to manage your international payments. Learn more here.

Payments

Boost sales and simplify payments with an improved Klarna experience 🛍️

Exciting news for Airwallex payments customers. You can seamlessly integrate Klarna as a payment method directly through the web app. This opens up a wider range of Buy Now, Pay Later (BNPL) payment options for your customers, boosting conversions and sales.

What this means for you:

• Offer Klarna to your customers: You can now easily self-activate Klarna as a payment option on the Airwallex web app. This allows your customers to enjoy flexible BNPL payment options at checkout, increasing conversion rates.

• Simplified dispute management: Manage Klarna disputes directly on the Airwallex web app or automate them through our API. This reduces the operational burden on your team.

• Maximize your reach with currency switching on Shopify App: Seamlessly integrate with your Shopify store with the Airwallex Klarna App with currency switching to allow your shoppers to pay with Klarna regardless of your Shopify store currency.

Ready to offer Klarna to your customers? Get started quickly and easily through the Airwallex web app. Learn more here.

Spend

Introducing bulk card actions 🧾

We've got exciting news for Airwallex card admins. Now you can freeze, unfreeze, or cancel multiple cards at once directly from the main Cards list. No more managing cards one by one.