Business expense cards that work internationally from Canada
Airwallex Editorial Team
Managing employee spending across borders presents unique challenges for Canadian businesses. In 2024, Canada ranked as the 13th largest global business travel market, with spending projected at $36.5 billion CAD, highlighting the significant role business travel plays in the economy.¹
As companies expand internationally, they need expense management solutions that can seamlessly handle cross-border transactions. The complexity grows when managing multiple currencies, fluctuating exchange rates, and diverse payment infrastructures.
For Canadian businesses expanding globally, selecting expense cards that support international operations while offering control and visibility over spending is key to maintaining financial efficiency and oversight. As the digital payment market grows from $10.18 trillion in 2024 to a projected $32.07 trillion by 2033, cross-border transactions will only become more frequent and complex, driving the need for sophisticated, globally capable payment solutions.²
The growing need for international expense management
Canadian companies operate in a global marketplace where cross-border transactions have become routine. Global cross-border bank credit expanded by $1.5 trillion in the first quarter of 2025, reaching a record $34.7 trillion.³ This expansion reflects the reality that businesses can no longer afford to treat international expenses as occasional exceptions.
But managing those expenses isn’t just a matter of currency conversions. Companies must negotiate varying regulatory environments, diverse payment systems, and fragmented financial infrastructures. With cost pressures mounting – e.g., 60% of companies are trimming their travel budgets and 96% are implementing stricter cost-control policies – efficient and transparent expense management has become a top priority for finance leaders.⁴
For Canadian businesses, the stakes are particularly high. According to a YouGov survey from Corporate Traveller Canada, 42% of SMEs expect to increase their business travel budgets in 2025, despite inflation and cost pressures persisting, underscoring the need for efficient, scalable systems to manage rising travel-related expenses.
Global business expense management – made easy.
Key features of international business expense cards
Multi-currency support and real-time exchange rates
Companies operating across borders need the ability to spend in multiple currencies without incurring excessive fees. The most effective business expense cards support a broad range of currencies and provide real-time foreign exchange rates for major currency pairs. Live rates reduce uncertainty in international transactions, allowing finance teams to forecast expenses accurately and manage budgets with greater precision.
Because international transactions often require currency conversion, the cost of foreign exchange plays a major role in managing global spend. Some providers offer rates close to the interbank benchmark, while others add surcharges that can significantly increase costs. In Canada, for example, many credit cards charge a standard foreign transaction fee of about 2.5% – a cost that can quickly add up for businesses with high volumes of international spending.⁵
Airwallex offers multi-currency Visa corporate cards that can be issued in more than 40 markets. Your businesses can draw directly from company-held balances in major currencies, including USD, AUD, HKD, CNY, EUR, GBP, and SGD. Currency conversions are completed at market-leading rates – 0.5% above the interbank rate for major currencies – and all transactions are tracked through a single, real-time dashboard, giving finance teams visibility and control over global spending.
Global acceptance and payment networks
The reach of your expense card network determines where your employees can use their cards effectively. Visa and Mastercard account for 90% of all payment processing outside of China and have a combined market value of approximately $850 billion, making cards on these networks essential for global operations.⁶
Beyond the major card networks, many expense management platforms connect to a variety of local payment methods, including regional debit networks, bank transfer systems, and mobile wallets, as well as support for dozens of global currencies. This breadth of coverage helps ensure employees can pay vendors, book travel, and make purchases wherever business takes them, while also accommodating the preferred payment options of customers and partners in each market.
Automated expense tracking and reporting
Automation transforms international expense management from a time-consuming burden into a streamlined process. The Global Business Travel Association estimates that, on average, it takes 20 minutes and costs $58 to manually process a single expense report.⁷ Automated systems dramatically reduce this time and cost.
According to a McKinsey report, organizations that adopt AI-driven automation in their financial processes can reduce processing times from days to mere minutes and achieve a cost reduction of up to 30%.⁸
Comparing international expense card providers for Canadian businesses
Traditional banks vs. fintech solutions
Canadian businesses selecting an international expense card often weigh the reliability and established services of traditional banks against the speed and flexibility of modern fintech platforms.
Traditional banks: Offer well-established relationships, in-branch service, and familiarity with Canadian regulations. However, international features, such as multi-currency support, instant card issuance, or real-time expense visibility, may be more limited.
Fintech platforms: Designed for global operations, often providing faster onboarding, automated spend controls, and easier access to CAD and USD cards. Some, like Float, focus on Canadian-specific requirements such as provincial tax handling,⁹ while others, like Brex, differentiate with tailored spend programs for specific industries.
Airwallex combines the core benefits of both approaches. Businesses can issue Visa expense cards instantly, manage CAD, USD, and other currencies on a single platform, and track spending in real time. This helps Canadian companies operate confidently at home and abroad, without the complexity of opening and maintaining separate bank accounts in each market.
Fee structures and hidden costs
The true cost of an international expense card goes beyond the annual or monthly fee. Businesses should evaluate the total cost of ownership, which can vary significantly between providers.
Common factors include:
Annual and per-card fees – Some cards are free to hold, while others could charge up to $199 per card each year.
Foreign transaction fees and FX markups – Traditional credit cards in Canada often charge 2–3.5% on foreign currency transactions. Even cards marketed as having “no foreign transaction fee” may still build FX markups into their exchange rates.
Other charges – ATM withdrawal fees, late payment fees, or charges for premium reporting and controls can add to costs.
Rewards offsets – Cashback or points can help reduce the net cost, but businesses should assess whether these benefits outweigh the fees based on actual spend patterns.
Currency flexibility – Cards limited to CAD may lead to hidden conversion costs when paying in USD or other currencies.
Airwallex takes a transparent approach by publishing FX rates upfront and removing hidden fees, helping businesses clearly see what they’ll pay for international transactions. This clarity supports more accurate forecasting and cost control, especially for companies managing spend in multiple currencies.
Simplified global spending. Issued in minutes.
Integration capabilities with existing systems
Efficient expense management depends on how well a card platform works with a business’s existing tools. For many Canadian businesses, this means direct integration with accounting platforms, ERP systems, and even eCommerce marketplaces to reduce manual reconciliation.
Common integration features include:
Accounting sync – Automatic mapping of transactions to general ledger (GL) codes and expense categories. Some providers, such as Brex, offer real-time mapping to ERP and accounting systems, giving finance teams instant visibility.
ERP and workflow connectivity – Linking to systems like NetSuite or SAP to streamline approvals, reporting, and compliance checks.
eCommerce and operational integrations – Direct connections to platforms like Shopify or Amazon to centralize payment tracking.
API access – Allowing businesses to build custom workflows and automate processes such as reconciliation and spend reporting.
Airwallex offers ready-made integrations with major accounting platforms like QuickBooks, Xero, and NetSuite, along with enterprise-grade REST APIs for custom builds. This enables businesses to centralize expense management across currencies and markets while reducing the risk of errors from manual data entry.
Implementation strategies for Canadian companies
Setting up multi-currency accounts
Establishing multi-currency accounts forms the foundation of effective international expense management. Multi-currency global accounts with local details can be opened in minutes through modern platforms, dramatically simplifying what was once a complex process.
Airwallex offers multi-currency accounts that enable businesses to hold and manage multiple currencies without the need for constant conversion. This capability proves particularly valuable for companies with regular international transactions.
Setting up an account involves completing Know Your Business (KYB) verification, which is typically processed within 48 hours. Once approved, businesses can manage their international finances more efficiently and avoid unnecessary FX conversions.
Managing employee cards across borders
Distributing and managing employee cards internationally requires careful planning and the implementation of robust systems. Modern platforms allow businesses to issue unlimited employee cards and automatically submit receipts via mobile apps, eliminating the need for traditional expense reports.
Airwallex enables the instant creation of multi-currency VISA corporate cards with built-in controls. Employees and employers can stay on top of all purchases from a single dashboard, providing real-time visibility regardless of location.
Security, compliance, and regulatory considerations
When managing cards across borders, security is essential. Most providers follow PCI DSS Level 1 standards, hold licenses from financial regulators, utilize advanced fraud detection tools, and conduct regular security audits to protect customer data.
Compliance is just as important. Businesses must meet international tax rules, such as OECD standards for reimbursing cross-border travel expenses. In Canada, OSFI’s Guideline B-13 – effective January 1, 2024 – requires federally regulated financial institutions to adopt stronger authentication methods. These measures affect how companies handle payments and ensure their financial operations remain both secure and compliant.
Real-world benefits and ROI
Cost savings through optimized FX rates
The impact of competitive foreign exchange rates can be substantial, especially for businesses with frequent cross-border transactions. Even small differences in rates can add up to significant annual savings when applied to high transaction volumes.
Expense cards connected to multi-currency accounts allow businesses to spend directly from held currency balances, avoiding unnecessary conversions and reducing exposure to FX markups. With access to interbank rates and transparent pricing, companies can minimize conversion costs and retain more of their revenue to drive growth.
Improved visibility and control
For businesses operating internationally, real-time visibility into transactions is essential for managing cash flow and avoiding delays.
Flightpath, a Canadian-based private executive jet charter and management company, previously relied on a patchwork of banking systems and third-party providers. Payments could be delayed for weeks, and tracking incoming funds required constant back-and-forth between teams.
With Airwallex, Flightpath’s finance team gained instant visibility into global transactions from a single dashboard. Payments can now be tracked and approved in real time, reducing uncertainty and eliminating the guesswork of reconciling funds. This level of control helps keep operations running smoothly and supports the seamless client experience for which the company is known.
Streamlined reconciliation processes
For Canadian businesses managing spend across multiple entities and currencies, fragmented financial tools can slow growth and add unnecessary manual work.
RYSE, a Toronto-based smart home technology company, faced this challenge while operating across Canada and the US. With 90% of its revenue in USD and many expenses in CAD, managing cross-border payments and vendor expenses was time-consuming and costly.
By consolidating its financial operations with Airwallex, RYSE eliminated the need for multiple bank accounts, reduced conversion fees, and simplified payment workflows. The team uses Airwallex Corporate Cards to assign unique cards to each service provider, streamlining expense tracking, improving security, and reducing manual reconciliation. If a card is compromised, it can be instantly canceled without disrupting payments to other vendors, saving significant time and effort.
Future trends in international expense management
AI and machine learning integration
Artificial intelligence is transforming expense management from a manual chore into a streamlined, proactive process.
Today, many companies still rely on time-consuming workflows – manual data entry, chasing receipts, and fixing errors. Nearly 20% of expense reports contain mistakes, and each can cost over $50 to process.¹⁰
AI changes this by automatically categorizing expenses, matching receipts to transactions, and flagging duplicates or suspicious charges. McKinsey’s 2025 State of AI survey found that 78% of businesses now use AI in at least one function, with many reporting cost reductions in the areas where it’s deployed.¹¹
Fraud detection is another advantage. Machine learning scans transactions in real time, blocking or flagging unusual activity, which is especially valuable when managing spend across currencies and countries. Some platforms, like Airwallex, use AI to speed up corporate card dispute resolution by about 40%, reducing delays and manual follow-ups.
The result: less time spent on clean-up, more time focused on financial strategy.
Blockchain and cryptocurrency integration
Stablecoins are gaining attention for faster settlement times, lower fees, and the ability to automate payments through smart contracts. Visa and Mastercard’s plans to launch stablecoin-linked products signal growing mainstream interest.¹²
While stablecoins have advantages, many fintech solutions deliver similar speed and cost benefits using regulated fiat currencies and local banking rails, without the need to set up crypto wallets or manage conversions. These platforms also integrate with existing accounting and ERP systems, making them easier to adopt for day-to-day operations.
Stablecoins currently represent about 1% of global payment volume and are more likely to complement, not replace, traditional rails in the near term. For most businesses, regulated fiat-based solutions remain the most reliable option, with the flexibility to add stablecoin payments as the market matures.
Enhanced mobile capabilities
Mobile access is now a core requirement for international expense management. As Canadian businesses expand globally and employees travel more frequently, real-time mobile access to expense management is what keeps spending under control and payments flowing smoothly across borders.
Modern expense management apps offer intuitive interfaces, receipt capture via OCR, and real-time transaction alerts, features that reduce administrative delays and help finance teams maintain control, even across time zones. Offline syncing ensures employees can submit expenses or access card details when traveling in regions with limited connectivity.
For finance leaders, mobile dashboards provide the same visibility as desktop tools, enabling them to monitor spending, approve requests, and adjust limits instantly. This flexibility is especially valuable for cross-border operations, where quick decisions can prevent delays, avoid declined payments, and keep business moving smoothly.
Making the right choice for your business
Selecting the right international expense card solution requires careful evaluation of your specific business needs. Consider your international transaction volume, the countries in which you operate, integration requirements with existing systems, and the level of control and visibility you require.
Airwallex offers comprehensive resources for comparing corporate and business cards, enabling Canadian businesses to make informed decisions. Our global reach, with the ability to pay employees, contractors, or suppliers in over 200 countries, where 90% of transactions are processed through local rails and arrive within a few hours or the same day, demonstrates the capabilities modern businesses require.
For companies serious about international expansion, the choice of an expense management platform can have a significant impact on operational efficiency and financial performance. With Airwallex having grown its customer base by 50% in 2024 and now serving 150,000 businesses worldwide, the platform has proven its ability to support businesses at scale.
Canadian businesses that invest in robust international expense card solutions position themselves for success in the global marketplace. By selecting platforms that provide multi-currency support, competitive exchange rates, comprehensive integration capabilities, and robust compliance features, companies can transform international expense management from a challenge into a competitive advantage.
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Airwallex Editorial Team
Airwallex’s Editorial Team is a global collective of business finance and fintech writers based in Australia, Asia, North America, and Europe. With deep expertise spanning finance, technology, payments, startups, and SMEs, the team collaborates closely with experts, including the Airwallex Product team and industry leaders to produce this content.
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- The growing need for international expense management
- Key features of international business expense cards
- Comparing international expense card providers for Canadian businesses
- Implementation strategies for Canadian companies
- Real-world benefits and ROI
- Future trends in international expense management
- Making the right choice for your business
