MODIFI logo

MODIFI simplifies transactions with Airwallex

Find out how global commerce platform for business payments, MODIFI, took advantage of Airwallex’s Global Accounts to transfer money across multiple regions with export financing opportunities for businesses.

Discover Airwallex
MODIFI logo

MODIFI helps businesses manage international trade through its innovative digital platform, enabling sellers to receive payments instantly and offering buyers the option to pay up to 180 days later. The company now serves over 1,500+ businesses across more than 54 countries, spanning the major trading regions of Europe, Asia, and America.

Industry

FinTech

Company size

100+ employees

Location

Global

Airwallex Products Used

Transfers & FX

MODIFI helps businesses manage international trade through its innovative digital platform, enabling sellers to receive payments instantly and offering buyers the option to pay up to 180 days later. The company now serves over 1,500+ businesses across more than 54 countries, spanning the major trading regions of Europe, Asia, and America. 

The Challenge

Liquidity that benefits both trade parties - where sellers get paid instantly and buyers pay up to 180 days later - is the main value MODIFI provides their B2B clients. However when dealing with larger buyers, they quickly noticed a problem when collecting payments.

MODIFI funds the seller upfront for a small fee. This helps improve cash flow for sellers and improves buyer-seller relationships resulting in growth and expansion. 

Although getting paid by smaller buyers was straightforward enough, when dealing with larger buyers, the buyers’ systems don’t allow payment to third parties -  so they have to pay the seller into an account in the seller’s name. They couldn’t pay MODIFI directly.

Sven Bauer

Chief Operating Officer, MODIFI

“Customers of global trade solutions expect a smooth, fast and flexible experience. MODIFI was looking for a reputable and reliable partner that could accommodate cross-border payments at scale, while being easy to implement and operate within the MODIFI platform.”

MODIFI needed a solution that:

  • enabled them to set up accounts in the seller’s name

  • helped them receive payments vial local payment rails (rather than the inefficient and costly SWIFT system)

  • improved payment visibility

  • worked across multiple currencies and geographies

The Solution

Airwallex’s Global Accounts are embedded into the MODIFI platform and essentially act as collection accounts for MODIFI. These accounts can be created instantly in their client’s name via API, and simplify the collection process and operations for MODIFI. 

Airwallex Global Accounts are multi-currency, meaning MODIFI can collect payments from buyers around the world without being subject to unnecessary FX fees.

The Result

Accounts can now be in the seller’s name

By creating accounts in the seller’s name, buyers can meet their contractual obligations, and MODIFI remains in complete control of the payments process, tracking the payment means more visibility and less risk. 

Leveraging local rails lessens the reliance on SWIFT

Processing SWIFT payment transfers is expensive. At Airwallex, 93% of all payments are done through local payment rails. This means MODIFI can now enjoy faster and cheaper payments globally.

API-first phased integration to suit MODIFI’s needs

We worked with MODIFI to implement a solution that best suits their specific challenges, with access to the comprehensive suite of Airwallex APIs to make integration as smooth as possible.

A problem solved globally

Fixing this seemingly small problem now means MODIFI can work effortlessly with exporters across the globe, offering a simplified financing and collection process for both buyers and sellers utilising MODIFI platform.

Sven Bauer

Chief Operating Officer, MODIFI

“Airwallex is our payments partner of choice when it comes to removing the friction associated with traditional financing. By using Airwallex, we offer exporters a seamless solution which eases trade bottlenecks and liquidity issues. Airwallex is a key partner in our mission to deliver finance to companies seeking sustainable growth.”

More stories from Airwallex customers

Karst Stone Paper sees rock-solid results with Airwallex payment solutions and more
How July's trust in Airwallex allowed them to focus on their business
How Mr Yum empowered their international growth teams to hit the ground running with Airwallex cards

See how our customers are finding Airwallex

Airwallex Testimony

“Airwallex is our one-stop shop for all our banking needs, in one easy-to-use interface. Without Airwallex, we would not have been able to scale our business as fast as what we’ve been able to achieve.”

Andrew Ford and Rosa-Clare Willis

Co-founders, Crockd

Airwallex Testimony

“Airwallex has been a game changer for us. I cannot recommend these guys enough. The forex services are super efficient and super competitive. The customer service is not gold-plated, it's solid gold. One of the best eCommerce services for merchants we have come across since Paypal hit the scene 20 years ago."

Murray Kester

CEO, Cosmetics Now

Airwallex Testimony

“The new Expense Management system has been a real time saver for us in relation to the administration of our benefits program. Team members can upload receipts as they shop and we are able to clear our reconciliations much faster this way.”

Tanya Karolia

Payroll & Benefits, Linktree

Airwallex Testimony

“Airwallex provides us with flexibility and cost savings in dealing internationally. We used Airwallex to receive our recent global fundraising round and pay international suppliers and are saving at least 5% per dollar transferred versus the big banks.”

George van Dyck

Finance Manager, Zoomo

Airwallex Testimony

“Having all our global SaaS subscriptions in one place has streamlined our finance processes and enabled better tracking and control of expenses. It’s even better knowing that Airwallex isn’t hitting us with any international transaction fees.”

Warren Durling

Chief Operating Officer, Dovetail

Airwallex Testimony

“Airwallex has made it really easy to pay our suppliers in any currency. We have not only saved $10,000 each month, but our suppliers now get their payments faster and in-full. We receive a notification once it’s dispatched, and it eliminates the worry factor of where our money is at. This is important for us to keep building a strong relationship with our suppliers.”

Danielle Goodwin

Director, Hawkeye Vintage

Contact our specialist team

We're happy to answer questions and get you acquainted with Airwallex.

Watch a 3-minute demo

Enter your details below to watch the demo:

We're not a bank, we're better.

Get started
Business Account
Global Accounts

© Airwallex 2024. All rights reserved. Sitemap

This information doesn’t take into account your objectives, financial situation, or needs. If you are a customer of Airwallex Pty Ltd (AFSL No. 487221) it is important for you to read the Product Disclosure Statement (PDS) for the Direct Services, which is available here. If you are a customer of Airwallex Capital Pty Ltd (Authorised Rep No. 001304702), it is important for you to read the Product Disclosure Statement (PDS) for Airwallex Yield, which will be made available to you at the time of onboarding. Airwallex Yield is brought to you by Airwallex Capital Pty Ltd (Authorised Rep No. 001304702). All investments carry risk. *Target returns are after fees and accurate and updated as at 24 January, 2024 (AEDT).

Cookies on the Airwallex website

We use cookies to give you a better experience on our website. If you continue without changing your settings, we’ll assume that you are happy to receive cookies. However, if you would like to, you can change your cookie any time here

Find out more