Chemtec automates up to 50 global payments per hour and saves 100 bps on FX with Airwallex

Introducing Chemtec

Chemtec’s growth is defined by total self-sufficiency. By manufacturing its own resin flooring and polyaspartic systems in-house, it ensures its products resist the most difficult industrial conditions.

However, operating a manufacturing plant in Canada while managing sales entities in the US and Belgium created a logistical challenge. Chemtec moves millions of dollars annually to support this global footprint. With a steady flow of CAD, USD, and EUR, it needed a financial partner that could keep pace with its operational speed.

The challenge: high costs and complicated legacy banking

Before Airwallex, Chemtec managed international operations through a fragmented network of traditional chartered banks. As the business grew, "old school banking" became a drain on resources.

The team faced three primary hurdles:

• The European complexity: Managing physical bank accounts in Belgium was exceptionally slow. Rigid security requirements and manual setup procedures caused constant delays, making the process far more time-consuming than expected.

• Administrative friction: Processing multiple daily payments across time zones required exhaustive manual documentation. Without a streamlined approach, the workload threatened to consume the team's entire capacity.

• The HR problem: In a tight labor market, Chemtec estimated it would need at least 3 or 4 additional employees just to handle the administrative volume of global payroll and supplier payments.

Hamid Benidir

Innovation & Optimization Manager of Chemtec

"I regard Airwallex as a true fintech solution. I always say I prefer Apple because it's so intuitive. Traditional banks will do the banking, but they are 'old school' – they feel like Android to me. Airwallex is the Apple of this space."

The solution: one platform for global scale

Chemtec integrated Airwallex with its tech stack, including QuickBooks Online, to create a high-velocity payables engine. “Airwallex is easy to plug into most of the ERPs and accounting systems I’ve seen,” Hamid noted. “It’s streamlined our daily payments and eliminated what was previously a major bottleneck.” 

Centralized global payouts

By leveraging Airwallex’s Global Accounts and Transfers, Chemtec moved away from manual wire transfers and physical documentation. The platform’s ability to handle three-way matching between accounting and operations ensured accuracy and allowed the team to manage high volumes of payments without the manual back-and-forth.

A strategic procurement tool

Airwallex’s support for local currencies transformed Chemtec’s supply chain strategy. By offering to pay global suppliers in their home currencies, the business removed exchange-rate anxiety for its partners.

Hamid Benidir

Innovation & Optimization Manager of Chemtec

“Being able to pay a supplier in their own currency opens the door for my procurement manager to negotiate better terms. I’m giving my team real-world tools to drive the business forward.”

The results: turning finance into a growth engine

Chemtec has transformed its finance function from a manual hurdle into a scalable engine for growth. “Setting up the platform was the best banking experience I’ve had,” Hamid shared. “Airwallex proves they mean business by offering solutions that complement our growth.”

The partnership has delivered significant measurable outcomes:

• Unprecedented operational velocity: The shift to automated workflows has been a game-changer. Account setup and management now move three times faster than legacy processes, while the team can manage up to 50 payments in an hour – a task that previously would have taken a full workday.

• Immediate bottom-line impact: By securing better rates, Chemtec saves up to 100 basis points (bps) on USD-to-CAD and USD-to-EUR trades compared to legacy banks. On millions of dollars in volume, these savings are reinvested directly into the business.

• Scaling without the overhead: By centralizing Global Accounts, FX, and Issuing into a single platform, Chemtec transformed a fragmented financial setup into a unified engine. This allowed the business to scale distribution across two continents without hiring the 3 to 4 additional employees originally projected to handle the administrative load.

What’s next: supporting global expansion 

As Chemtec continues to develop new resin systems and expand its international reach, it views Airwallex as a long-term strategic partner. “Airwallex will be a key partner in supporting our global growth by enabling efficient and scalable financial operations,” Hamid concludes. 

For a business built on manufacturing the highest-quality solutions, maintaining the same level of quality in its financial infrastructure is essential to its success.