If you are a SaaS provider targeting customers in multiple markets globally, you may find our Treasury products helpful to expand your business.
SaaS providers will be able to operate like a local business in multiple regions by creating Global Accounts to receive bank transfers via local payment methods for invoice payments, subscription fees etc. and enjoy faster settlement times compared to international payments. At the same time, by authorizing direct debit payouts from your Global Accounts you can save time and effort paying bills for local taxes, utilities, insurances etc. For Global Account’s supported regions, currencies, and payment methods, please see Supported regions and currencies.
Historically, financial services have been the domain of banks and dedicated providers. Now SaaS companies offering digital services such as eCommerce softwares, accounting softwares, and HR/Payroll softwares are also looking to extend their offerings into financial services to provide a more holistic solution for their customers.
As a SaaS platform, you can adopt our Scale solution to incorporate Global Accounts and/or Linked Accounts capabilities as part of your product and service offering. For example, you can provide a wallet service enabling your customers to receive bank transfers via Global Accounts; and top up their Wallets via direct debits from Linked Accounts. Together with our Transactional FX, Payouts and other capabilities, this offering will strengthen your value proposition.
In the following two vertical use cases, please see how you can leverage the basic building blocks we provide in your platform business.
As an eCommerce software provider, you aim to offer merchants a comprehensive suite of services around payments, marketing, shipping and customer engagement tools to make the process of running an online store easy.
Today, eCommerce merchants seek to sell on a global scale on various marketplaces/independent sites. This requires merchants to open and maintain local bank accounts in various regions and currencies to collect earnings across multiple stores, which is cumbersome and costly with traditional banks.
Instead, you can create a delightful experience by offering Global Accounts on demand to your merchants:
- Global Accounts can be created in regions and currencies of choice, as collection accounts for marketplaces like Amazon
- Detailed transaction information are readily available by retrieving deposits programmatically
- Fund movements are recorded and traceable for the purpose of reconciliation, proof of funds, data analysis by retrieving Wallet balances
In addition, it may also make sense to explore a solution that includes providing cards for business expenditures to your merchants. Learn more about how Airwallex's Issuing can help you. If you also have customers that run online businesses in multiple countries and need to convert and move money around, you can also learn more about our Transactional FX solutions. Finally if your customers have a scattered international supply chain, it is worthwhile looking at how you can leverage Airwallex’s Payouts product to provide an all-in-one suite to them.
As a SaaS provider of company formation and equity management tools, you partner with early ventures to simplify the process of incorporation, signing of formation documents / equity purchase agreements and then help to manage a company’s cap table through its lifecycle.
Perhaps the most important thing after incorporation for your customers (and maybe the first round of fundraising before funds are wired) is to obtain a bank account, so they can start to fund their business. Therefore it makes the most sense for you to provide an all-in-one solution where a new startup gets all the logistics done upfront (including account opening and treasury management) so they can focus on building and bring their new products to market.
As your customer’s business grows and cap table expands, you may also look to provide them (the company, investors, etc.) with the ability to fund in and pay out for various company equity-related transactions (exercising option grants, share repurchases, share liquidation, capital distribution etc.). With all these, you need a set of bank accounts that can be structured to fit your customer’s needs. Depending on the nature of the organizations/persons these bank accounts are for, different onboarding requirements may apply.
This is where you can adopt a Scale solution and create Global Accounts for your customers at incorporation, and then provision more of them for receiving equity-related transactions as needed. Additionally you can also support bookkeeping and reconciliation of equity funds by retrieving deposits and Wallet balances for them.
Got issues or some other use cases as a SaaS company? Let us know .