What's new in Airwallex - June 2023

What's new in Airwallex

This month’s releases are designed to help your business reduce the cost of global payment acceptance, reach more customers and send money faster. We’ve also made adjustments which will help you cut out manual processes, giving you more time to concentrate on what matters to your business.

Improvements 🎨

Add Union Pay to your checkout and increase global sales 🛒 

Union Pay is the largest card scheme in the world and a preferred payment method for online shoppers in China and Southeast Asia. Airwallex users in Singapore can now accept Union Pay card payments at checkout, opening up further opportunities for expansion. 

NB Union Pay is already available as a payment method for Airwallex users in Australia, Hong Kong and the UK. 

Stay on top of Direct Debits 💸 

If you manage direct debits through Airwallex’s API, you can now opt to receive a notification whenever a direct debit settles or is rejected or reversed. To turn on notifications, you will need to subscribe to a webhook event. For more information, get in touch with your account manager. 

Core API and Embedded Finance users can also cut out manual processes by topping up their euro Wallet balance by Direct Debit from a linked EUR SEPA bank account.  

Send money globally on the move, with Android 📱

Good news for Android users. You can now transfer funds to your existing recipients via Airwallex’s Android mobile app, making it easier to manage payments on the move. 

Make instant transfers 24/7 🕒

Users in Singapore will now enjoy instant local transfers around the clock. What’s more, you can opt to share a transfer reference with your recipients, making it easier for them to reconcile payments. 

Reduce costly chargebacks with the Mastercard pre-chargeback program 💳

Chargebacks cost your business money. Even if you win a dispute, you have to pay a fee. Our Mastercard pre-chargeback program is designed to resolve disputes and fraudulent transactions before they become chargebacks. If a dispute is under a set threshold, Airwallex will refund your customer’s transaction automatically, saving you time and money.

This is one of many schemes we employ to reduce the cost of chargebacks for your business. Others include Visa Rapid Dispute Resolution and Fraud Auto-Refund. 

Settle Thai Baht directly into your Wallet and save on FX ↔️

Users in Hong Kong, Australia and Singapore can now collect and settle Thai Baht directly into their Wallet through Airwallex Payments. That means you can avoid the cost of FX conversions  when customers pay you in Thai Baht, by settling like-for-like. It’s just one of the ways we’re making it easier for your business to go global. 

Upcoming arrivals 🧳

Netsuite expense integration 🚀

Customers that use Netsuite will soon be able to integrate their accounting software with Airwallex Expense Management. Once integrated, all expense transaction data will automatically be reconciled in your chart of accounts, saving you time. This integration is already live for Xero and Quickbooks. 

An even smoother Shopify checkout 🛍️

Merchants that use Shopify will soon be able to natively integrate the Airwallex checkout into their store. This means you’ll benefit from everything the Airwallex checkout offers - including like-for-like settlement in multiple currencies and 160 local payment methods - without redirecting your customers away from Shopify. A better payment experience for your customers and for you.  

That’s it for our June release round-up. We hope these improvements help you propel your business to new heights.

Have something you’d like to see earlier for your region on our roadmap? Let us know here.