Airwallex launches multi-currency virtual cards in the United States

FinTech platform Airwallex has launched its Airwallex Borderless Card, a virtual card issued by Community Federal Savings Bank that allows businesses to easily make cross-border digital card payments, according to a press release.

Airwallex customers in the United States will be able to generate and issue multi-currency virtual payment cards that can be used to pay suppliers or online merchants.

Airwallex’s new card will allow US businesses to transact in more than 140 countries, making it easier for them to expand into new markets due to the ease of payment.

And single-use and multi-use card capabilities can improve security, control and visibility.

The company also plans to expand the card’s functionality and offer physical multi-currency payment cards for business owners and employee work expenses.

Airwallex partnered with Visa in February 2020 to improve cross-border payments for businesses.

Shahryar Abbasi, Head of Small and Medium Business North America at Airwallex, said, “The Airwallex Borderless Card can help solve a number of issues that US businesses often face when making cross-border payments. With the Airwallex Borderless Card, US businesses will have the flexibility and control to grow their business internationally and make seamless payments in seconds.

Read more: Aussie FinTech Startup Airwallex Deploys Payment Services in Singapore

PYMNTS wrote that Airwallex also recently launched its services in Singapore.

This came as it obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore, and it also piloted a successful beta launch in November 2020.

The suite of products that Airwallex will offer includes digital payments, global account issuance, domestic and cross-border money transfers, and multi-currency wallets.



On: Forty-two percent of US consumers are more likely to open accounts with financial institutions that facilitate automatic sharing of their bank details upon sign-up. The PYMNTS study Account opening and loan management in the digital environmentsurveyed 2,300 consumers to explore how FIs can leverage open banking to engage customers and create a better account opening experience.

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