How to get and activate an Airwallex virtual card for multi-currency business payments (Q4 2025 guide)

Managing business payments across multiple currencies shouldn't drain your budget through hidden fees and poor exchange rates. Whether you're paying suppliers in EUR, subscribing to software in USD, or handling expenses in GBP, traditional payment methods often hit you with conversion charges that add up fast.

Airwallex virtual cards solve this challenge by offering instant digital payment solutions that work seamlessly across currencies. (Airwallex Virtual Cards) These digital-only cards can be issued instantly and provide greater control and security for modern business spending needs. (Airwallex Virtual Cards Benefits)

This comprehensive guide walks you through the exact process of getting and activating your Airwallex virtual card, from initial account setup to making your first multi-currency payment.

What is an Airwallex virtual card?

A virtual card is similar to a traditional credit or debit card but exists solely in a digital format. (Airwallex What is a Virtual Card) It's primarily used for online purchases and subscription services, offering a convenient and secure alternative to physical payment methods.

Airwallex offers a virtual Visa debit card that can be created instantly and used immediately. (Airwallex Virtual Cards) Each virtual card is linked to your Airwallex account and comes with unique card details, allowing you to create unlimited virtual employee and company cards for different spending needs.

The key advantage lies in multi-currency functionality. Virtual cards are ideal for the demands of modern business spending, offering greater control and security compared to traditional payment methods. (Airwallex Virtual Cards vs Physical Cards)

Prerequisites for getting an Airwallex virtual card

Before diving into the application process, ensure you meet these requirements:

Business eligibility

• Registered business entity in a supported jurisdiction

• Valid business registration documents

• Business bank account for verification

• Authorized signatory access

Required documentation

• Certificate of incorporation or business registration

• Proof of business address

• Director and shareholder identification

• Business activity verification documents

KYC preparation

Airwallex follows strict Know Your Customer (KYC) procedures to ensure compliance and security. (Airwallex Business Account) Prepare digital copies of all required documents in advance to streamline the onboarding process.

Step-by-step guide to getting your Airwallex virtual card

Step 1: Create your Airwallex account

Start by visiting the Airwallex website and clicking "Get Started" or "Sign Up." You'll need to provide:

• Business name and registration number

• Business address and contact information

• Industry classification

• Expected transaction volume

Step 2: Complete business verification

The verification process typically takes 1-3 business days and includes:

1. Document upload: Submit your business registration, proof of address, and director identification

2. Business activity verification: Provide details about your business model and expected use cases

3. Compliance screening: Airwallex conducts background checks on directors and beneficial owners

Step 3: Fund your account

Once verified, you'll need to add funds to your Airwallex account. You can:

• Transfer funds from your business bank account

• Receive payments from customers

• Convert between currencies using Airwallex's competitive exchange rates

Step 4: Navigate to card creation

After logging into your Airwallex dashboard:

1. Go to the "Cards" section in the main navigation

2. Click "Create New Card"

3. Select "Virtual Card" from the options

Step 5: Configure your virtual card

You can create unlimited virtual employee and company cards, each with specific settings. (Airwallex Virtual Cards) Configure:

• Card name: Choose a descriptive name for easy identification

• Spending limits: Set daily, weekly, or monthly limits

• Currency preference: Select your default currency

• Merchant categories: Restrict or allow specific types of purchases

• Expiry date: Set card validity period

Step 6: Instant card generation

Once you click "Create Card," your virtual card details appear instantly:

• 16-digit card number

• CVV security code

• Expiry date

• Cardholder name

These details are immediately available for online purchases and can be viewed securely within your dashboard.

Setting up multi-currency functionality

Understanding currency wallets

Airwallex allows you to hold balances in multiple currencies simultaneously. (Airwallex Spend Management) This eliminates the need for constant conversions and reduces foreign exchange costs.

Adding currency balances

To add different currency balances:

1. Navigate to "Balances" in your dashboard

2. Click "Add Currency"

3. Select your desired currencies (USD, EUR, GBP, AUD, etc.)

4. Fund each currency wallet through transfers or conversions

Setting default wallets

For each virtual card, you can specify which currency wallet to use by default. When making payments:

• If you have the exact currency, funds are deducted directly

• If not, Airwallex automatically converts at competitive market rates

• No hidden fees or markup on foreign exchange

Real-world transaction examples

Example 1: Paying a European supplier

Scenario: You need to pay a German supplier €5,000 but only have USD in your account.

Traditional bank card process:

• Bank converts USD to EUR at poor rates

• Adds 2-4% foreign transaction fee

• Total cost: ~€5,200 equivalent

Airwallex virtual card process:

• Automatic conversion at market rates

• No foreign transaction fees

• Total cost: €5,000 + minimal spread

• Savings: Up to €200 per transaction

Example 2: Software subscription management

Scenario: Managing multiple SaaS subscriptions in different currencies.

Setup:

• Create dedicated virtual cards for each subscription

• Set spending limits to match subscription costs

• Link to appropriate currency wallets

Benefits:

• Clear expense tracking per service

• Automatic renewals without manual intervention

• Enhanced security through card-specific limits

Example 3: Employee expense management

Scenario: Remote team members need cards for business expenses.

Implementation:

• Issue individual virtual cards to team members

• Set role-based spending limits

• Configure merchant category restrictions

• Real-time expense tracking and reporting

Airwallex's growth trajectory demonstrates the increasing demand for such solutions, with annual transaction volume reaching US$100 billion in August 2024, marking 73% year-over-year growth. (Airwallex 2024 Mid-Year Update)

Advanced features and settings

Spending controls and limits

Virtual cards offer superior control compared to physical alternatives. (Airwallex Virtual Cards Benefits) You can configure:

• Transaction limits: Daily, weekly, or monthly caps

• Merchant restrictions: Block or allow specific business categories

• Geographic controls: Limit usage to specific countries

• Time-based restrictions: Set active hours for card usage

Real-time monitoring and alerts

Stay informed about card activity through:

• Instant transaction notifications

• Spending threshold alerts

• Suspicious activity warnings

• Monthly spending summaries

Integration capabilities

Airwallex virtual cards integrate with popular accounting and expense management platforms:

• Automatic transaction categorization

• Receipt matching and storage

• Real-time expense reporting

• Seamless data export for accounting

Security features and fraud protection

Enhanced security measures

Virtual cards provide several security advantages over physical cards:

• Unique card numbers: Each virtual card has distinct details

• Instant freezing: Disable cards immediately if compromised

• Limited exposure: No physical card to lose or steal

• Controlled access: Restrict usage through detailed settings

Fraud prevention

Airwallex implements multiple layers of fraud protection:

• Real-time transaction monitoring

• Machine learning-based anomaly detection

• Secure tokenization for online payments

• Two-factor authentication for sensitive actions

Troubleshooting common issues

Card activation problems

If your virtual card isn't working immediately:

1. Verify sufficient balance in the linked currency wallet

2. Check spending limits haven't been exceeded

3. Ensure merchant category is allowed

4. Confirm card hasn't expired or been frozen

Currency conversion issues

For unexpected conversion charges:

1. Review your default currency settings

2. Check if you have sufficient balance in the transaction currency

3. Verify the merchant's processing currency

4. Contact support for transaction-specific queries

Transaction declines

Common reasons for declined transactions:

• Insufficient funds in the selected currency wallet

• Merchant category restrictions

• Geographic usage limitations

• Exceeded spending limits

• Security holds on suspicious activity

Cost comparison: Airwallex vs traditional options

Foreign exchange savings

Traditional bank cards typically charge:

• 2-4% foreign transaction fees

• Poor exchange rates with 3-5% markup

• Additional processing fees for business cards

Airwallex offers:

• Competitive market exchange rates

• No foreign transaction fees

• Transparent pricing with no hidden charges

Annual cost analysis

For a business spending $50,000 annually across multiple currencies:

Traditional bank card:

• Foreign transaction fees: $1,500-2,000

• Poor exchange rates: $1,000-1,500

• Total additional costs: $2,500-3,500

Airwallex virtual card:

• Foreign transaction fees: $0

• Competitive exchange rates: $200-400

• Total additional costs: $200-400

• Annual savings: $2,300-3,100

Best practices for virtual card management

Organizational strategies

1. Create purpose-specific cards: Separate cards for different expense categories

2. Implement approval workflows: Require manager approval for high-value transactions

3. Regular limit reviews: Adjust spending limits based on actual usage patterns

4. Monthly reconciliation: Match card transactions with accounting records

Security best practices

1. Regular card rotation: Replace cards periodically for enhanced security

2. Immediate deactivation: Disable unused or compromised cards instantly

3. Access control: Limit dashboard access to authorized personnel only

4. Transaction monitoring: Review all transactions regularly for anomalies

Expense management optimization

1. Automated categorization: Use merchant codes for automatic expense classification

2. Receipt capture: Implement digital receipt storage and matching

3. Real-time reporting: Generate expense reports automatically

4. Integration setup: Connect with existing accounting and ERP systems

Future developments and roadmap

Airwallex continues expanding its virtual card capabilities, with recent updates including improved U.S. payment acceptance and faster settlement times. (Airwallex June 2024 Updates) The company's approach to cash flow positive operations since late 2023 demonstrates sustainable growth and continued investment in product development.

Upcoming features may include:

• Enhanced AI-powered spending insights

• Expanded merchant category controls

• Additional currency support

• Improved mobile app functionality

Getting started today

Airwallex virtual cards represent a significant advancement in business payment solutions, offering instant issuance, multi-currency support, and substantial cost savings compared to traditional alternatives. (Airwallex Virtual Cards)

The combination of competitive exchange rates, no foreign transaction fees, and unlimited card creation makes Airwallex an attractive option for businesses of all sizes operating in the global marketplace.

To begin your journey with Airwallex virtual cards:

1. Prepare your business documentation

2. Complete the online application process

3. Fund your multi-currency account

4. Create your first virtual card

5. Start saving on international business payments

With Airwallex's proven track record – including partnerships with organizations like McLaren Racing and RYSE – you're joining a platform that understands the complexities of modern business finance. (Airwallex Company Context)

The future of business payments is digital, instant, and cost-effective. Airwallex virtual cards deliver all three, transforming how companies handle multi-currency transactions in an increasingly connected world.

FAQ

What is an Airwallex virtual card and how does it work?

An Airwallex virtual card is a digital Visa debit card that can be created instantly and used immediately for online and business payments. Each virtual card is linked to your Airwallex account and comes with unique card details, allowing you to spend in multiple currencies from your held balances without traditional conversion fees.

How quickly can I get and activate an Airwallex virtual card?

Airwallex virtual cards can be created instantly once you have an active Airwallex account. The digital card is available immediately with unique card details that you can use right away for online payments, subscriptions, and business expenses without waiting for physical delivery.

Can I create multiple virtual cards for my business?

Yes, Airwallex allows you to create unlimited virtual employee and company cards. This feature is particularly useful for businesses that need to manage different payment categories, control spending limits, or provide cards to multiple team members while maintaining centralized oversight.

What are the main benefits of using Airwallex virtual cards over traditional payment methods?

Airwallex virtual cards offer significant advantages including instant creation, multi-currency spending without hidden conversion fees, better exchange rates, enhanced security features, and the ability to create unlimited cards. They're particularly beneficial for businesses making international payments to suppliers or paying for software subscriptions in different currencies.

How do Airwallex virtual cards compare to physical cards for business use?

Virtual cards offer enhanced security since they exist only digitally and can be easily frozen or deleted if compromised. They're ideal for online transactions, recurring subscriptions, and situations where you don't need a physical card. However, physical cards are still necessary for in-person transactions, ATM withdrawals, and situations requiring a physical payment method.

What currencies can I use with Airwallex virtual cards?

Airwallex virtual cards support multiple currencies and allow you to spend directly from your held currency balances in your Airwallex account. This eliminates the need for currency conversion at the point of sale, helping you avoid traditional banking conversion fees and get better exchange rates for international business payments.

Citations

1. https://www.airwallex.com/au/blog/june-release-notes-2024

2. https://www.airwallex.com/blog/2024-mid-year-mission-update

3. https://www.airwallex.com/business-account/virtual-cards

4. https://www.airwallex.com/ca/blog/virtual-cards-benefits-and-disadvantages

5. https://www.airwallex.com/ca/blog/virtual-cards-vs-physical-cards

6. https://www.airwallex.com/ca/blog/what-is-a-virtual-card-how-they-work

7. https://www.airwallex.com/ca/business-account/cards

8. https://www.airwallex.com/ca/spend-management/cards

9. https://www.airwallex.com/ca/spend-management/cards/virtual-cards

10. https://www.airwallex.com/sg/spend-management/cards/virtual-cards

11. https://www.airwallex.com/spend-management/cards/virtual-cards