How Bowtie uses virtual corporate cards to streamline its operations in Hong Kong

Discover how Bowtie uses Airwallex to make faster payments across the globe at market-leading rates.

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Bowtie logo

90%

saved in unnecessary fees

3%

savings on FX conversion fees for international payments

10+ hours

saved for expense reinbuesement

Bowtie is a licensed life insurance company and Hong Kong’s very first virtual insurer. Built with modern technology and medical expertise, Bowtie’s powerful platform offers medical insurance plans under the Voluntary Health Insurance Scheme (VHIS) and other real insurance products to customers instantly and directly.

Company size

50 - 100 employees

Location

Hong Kong

Industry

Insurance

Airwallex Products Used

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Bowtie regularly pays international service providers located all around the world. Previously, Bowtie used local cards to make overseas payments to its suppliers or service providers, bearing heavy foreign exchange and transaction fees imposed by banks. With the help of Airwallex, Bowtie is able to save on global payments by eliminating such tedious fees.

Challenge 1: Bowtie regularly pays international service providers located around the world

Previously, Bowtie used local cards to make overseas payments to its suppliers or service providers, bearing heavy foreign exchange and transaction fees imposed by banks. With the help of Airwallex, Bowtie is able to save on global payments by eliminating such tedious fees.

Solution & Results: How Airwallex corporate Visa cards help Bowtie save 3-5% FX conversion fees

After using Airwallex, we are able to use their Company Cards to directly settle our foreign currency transactions. Airwallex doesn’t charge us any international transaction fees or TT fees. Their FX rates are also relatively competitive. Through Airwallex, we can save around 3-5% for these foreign currency payments

Gabriel Kung

Chief Commercial Officer of Bowtie

"Airwallex’s webapp allows us to control and set different spending limits for all employees, and manage everyone’s spending on the same platform, which has been incredibly convenient."

Challenge 2: Bowtie spends a lot of time on employee expense reimbursement

Prior to using Airwallex’s service, like most businesses in Hong Kong, Bowtie relied on an inefficient employee expense reimbursement model to pay its staff back for business-related spending.

Solution & Results: How Airwallex corporate Visa cards help Bowtie streamline the process of expense reimbursement

Thanks to Airwallex employee cards, Bowtie is able to issue free virtual Visa cards to its employees instantly online, enabling teams to make purchases easily to get the job done. Not only does this save the company time in expense reimbursement, but Bowtie can also track employee spending in real-time on Airwallex’s online portal to make sure that it is always on budget.

Edwin Wong

Deputy Chief Finanical Officer of Bowtie

"Their FX rates are also relatively competitive. Through Airwallex, we can save around 3-5% for these foreign currency payments."

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