Airwallex launches an online payments app on Shopify

Airwallex has launched an online payments app on Shopify, allowing merchants to integrate a gateway plugin on their online store to accept payments from their global customers.

The Airwallex Online Payments App is available through the company's payment acceptance offering and spans a broad variety of payment methods, including Visa, MasterCard and UnionPay bank cards.

The app also includes over 30 local payment methods across Asia Pacific and Europe, such as GrabPay in Southeast Asia, WeChat Pay in Asia Pacific, as well as Bancontact and Sofort in Europe.

"We are excited that our online payment acceptance solution will now be available on Shopify, helping merchants create a seamless payment journey on their online store," Airwallex partnerships senior vice president Ravi Adusumilli says.

"Our app is one of many offerings we have built to help merchants accept cross-border payments.

"In this case, by using an Airwallex account, merchants can gain secure access to a multitude of payment methods, both globally and locally, in a convenient, fast and affordable way possible."

As well as being able to accept payments globally, Airwallex merchants will also be able to receive settlements in more than seven major currencies, including USD, removing the need for unnecessary currency conversions and associated fees.

Further, merchants can accept payments directly into their Airwallex multi-currency wallets and pay out with Borderless Cards or Transfers.

The launch of its new online payments app comes after Airwallex released its global Expenses platform, offering modern solutions for organisations to manage their expenses in a quick, seamless and straightforward way.

Airwallex says that expense management has become a significant administrative burden for global companies due to the increasing shift to hybrid working models.

The Australian-founded fintech platform says its expense process remedies this issue by automating parts of the process that are traditionally time-consuming and manual.

"Managing spending efficiently is critical to the success of any business, so it's no surprise our Expenses solution was highly requested by the businesses we work with," Airwallex global head of product vice president Shannon Scott says.

"With the launch of our new Expenses platform, we are delivering a cohesive solution to one of the biggest administrative challenges businesses face when scaling.

"Airwallex's Expenses platform integrates seamlessly into our existing multi-currency cards product.

"Combined, this product suite offers control and visibility to businesses, helping to manage spending, reconciliation and reporting conveniently in one place."

Expenses will be available in all markets where Airwallex Borderless cards are currently available, including in Australia, the UK, Hong Kong, the US, and Singapore and Europe, later this year.

Earlier this year, Airwallex successfully trialled its bank feed integration with a group of global businesses, including Australian brand development firm Devcos International.

Devcos International financial controller Matthew Jie says that the integration has helped them overcome the challenges of reconciling their manual payments.

"We have been using the Airwallex bank feed in our NetSuite account for the past few months," Jie says.

"It has saved us a significant amount of time on the daily manual uploads and allows the team to perform bank reconciliation at any time in NetSuite without the worry of whether the transactions match up with our bank statements.

"This is absolutely a great feature for improving efficiency."