Orbitkey accelerates global expansion to over 1,000 stores with Airwallex
Discover how Orbitkey won global wholesalers with localized, easier payments with Airwallex's Global Accounts.
Approx. 70% savings
on international transfer fees on CAD and USD Payments
payments from wholesalers from 4 days to 1 day to receive
6+ hours saved
from chasing up missing payments
Orbitkey’s existing payments infrastructure had difficulty in efficiently dealing with international customers, wholesalers and suppliers.
Airwallex provided a single platform that enabled localised bank account details, no-cost deposits, low-cost FX transfers and greatly reduced administration time.
1. Enabling local payments for international customers & wholesalers
Problem: Orbitkey accepted payments from customers in foreign currencies which eventually had to be transferred to an Australian bank account in AUD. FX rates and transfers were expensive which reduced profit margins. Additionally wholesalers needed to pay directly into an Australian account in AUD. This caused a number to decide not to work with Orbitkey due to the costs involved.
Solution: Airwallex provided a EUR Global Accounts so customers and wholesalers could pay in EUR to a local bank account details to avoid fees. Orbitkey could then cheaply access these funds in AUD. Additionally payment speed from wholesalers increased from 4 days to 1 (75% saving).
Co-Founder at Orbitkey
“The most important part for business expanding internationally comes down to localisation. People don’t want to buy out of an Australian warehouse, they want to be buying from a local warehouse. They don’t want to be paying to an unfamiliar bank account with high fees, they want to be paying like a local”
2. Lowering the cost of paying international suppliers & vendors in CAD
Problem: Orbitkey paid suppliers (manufacturers) and vendors (marketing ad spend) in USD from their foreign currency account, based out of Australia. This meant they had to pay expensive international transfer fees on each payment made to international suppliers.
Solution: Airwallex’s Global Accounts allowed Orbitkey to make international payments to their suppliers, with their foreign currency funds - saving up to 70% on their international transfer fees.
3. Reducing administration time and financial errors
Problem: Dealing with multiple financial service providers, onboarding times were long and complex. Orbitkey previously used a service that required customers to include a reference number on payments. This step was often skipped resulting in payments being made without Orbitkey receiving the funds. Using multiple providers caused longer than usual administration times resulting in errors, issues with payments and eventual shipping delays.
Solution: Airwallex is a single platform where all global accounts and features can be accessed and managed from a single login. This resulted in significantly less administration and manual errors; a time saving of 6+ hours per week and the avoidance of flow-on impacts to customers.
Virtual CFO at Orbitkey
“Like many high growth businesses, you’re dealing with multiple currencies. Now, with Airwallex we’re using the one platform to make multiple currency payments”
Watch more about Obitkey's story here.
What users say about Airwallex
"Airwallex has been a game changer for all our banking needs. As a fast-growing startup, we need a scalable yet cost-efficient batch payment solution to pay our employees and vendors both inside and outside Hong Kong. Airwallex helps us save money on every bank transfer with their near-zero transaction fee and market-beating FX rates. We also use Airwallex’s multi-currency Visa cards for business travel expenses and SaaS subscriptions to avoid hidden bank fees that would otherwise have been difficult to spot. Would highly recommend other startups to get started with Airwallex!"
"Airwallex has been great for our team - it makes payments and transfers so much easier, and has saved us significant amounts of time compared to what we were doing before with HSBC. Airwallex's platform is easy to use and very intuitive. Airwallex virtual card has solved most of our painpoints with sharing corporate card numbers and credit card limits. The best part is being able to save money on all our monthly bank transfers, and we've already saved thousands of dollars by using Airwallex. Airwallex's support has also been highly responsive to troubleshoot any issues in a timely manner."
Co-founder & COO, Forkast.News
“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 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."
CEO, Cosmetics Now – eCommerce
“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.”
Chief Operating Officer, Dovetail – Digital Agency
“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 – eCommerce
“Airwallex saves us $40,000 annually in collections costs from our sales on Amazon, which is the majority of our sales in the U.S. market. It also allows us to ‘repurpose’ our international currencies. For example, if we sell in Europe we can pay European suppliers in Euros as well. There’s no need to ‘double convert."