Web3 gaming company opens Airwallex Global Business account to build Neopets Metaverse
Hong Kong-based game developer World of Neopets is bringing the nostalgic charm of Neopets to today’s world of Web3 gaming. Over the last two decades, the original Neopets.com browser game has won over more than 150 million fans from around the world. World of Neopets is building a brand new metaverse experience based on the well-loved virtual pet game. Launched in 2021, Neopets Metaverse has attracted a young generation of Neopians and offered a more immersive Web3 experience to its long-time followers. As World of Neopets continues to tap into its growth potential, the company has partnered with Airwallex to overcome some key challenges in its day-to-day operations.
Save up to HKD 200 on every foreign transaction
World of Neopets works with a number of global service providers to build Neopets Metaverse. Given its international presence, the company needs to make frequent payments in foreign currencies such as USD, Euro, and Australian Dollar. Before using Airwallex, it faced expensive bank charges whenever such foreign transactions took place. World of Neopets had to pay a telegraphic transfer fee of about HKD 100-200 per transaction to the bank on top of costly FX charges. This quickly added up to a considerable sum with the high volume of expenses that World of Neopets carries out on a daily basis.
Through a business referral, World of Neopets discovered Airwallex and opened a free global Business Account. Using Airwallex, World of Neopets no longer has to go through traditional bank services and is able to save on their foreign transaction costs. The Web3 game developer can also manage the payroll for its global employees much more easily with the Global Account. It is able to select the preferred payout currency and use the local currency to pay their overseas employees without being charged a transaction fee.
“Within the first month of using Airwallex, I immediately found it very easy to use. It has a Global Account that allows me to easily do the payroll for my employees all over the world.”
Kaye Chau, Operations Manager of World of Neopets
Save 1-3% on foreign exchange rates
In addition to bank transaction fees, World of Neopets also has to consider the foreign exchange rates when making global payments and transfers. Airwallex offers a competitive currency conversion rate, which is 1-3% lower than the market price. This helps World of Neopets gain better control and save on their foreign transaction costs.
Moreover, World of Neopets is able to make faster global transfers using Airwallex, ensuring that there is never a delay in their everyday business payments. Typically, traditional banks take up to 2-3 days to process a transaction. With Airwallex’s Global Account, World of Neopets can easily make same-day transfers around the clock. Their business can pay like a local and make transfers directly to local bank account numbers instead of using SWIFT codes.
Create company cards for employees in minutes
As a Web3 game developer, World of Neopets is a heavy user of SaaS applications, such as Google Ads for marketing, and they often need to pay their service providers in foreign currencies like USD. The Airwallex Borderless Card, which serves as a multi-currency company card for World of Neopets’s employees, makes this payment process more seamless and easier to manage for World of Neopets .
The company can gain greater control over business expenses, such as their SaaS subscriptions, as they are able to set spend limits and track employee spending in real-time. This makes sure World of Neopets always stays within their monthly budget and has full visibility over where each dollar has gone.
Moreover, World of Neopets can reconcile their expenses in one place, which helps them save time on expense management. They can automatically sync all company card expenses into their Xero account using Airwallex for seamless bookkeeping.
New employees who join World of Neopets will get their own Airwallex Borderless Card on their first day of work. It only takes a few minutes to create the company card, making onboarding new employees a fuss-free process.
Achieve rapid global expansion with Airwallex
Since its beginning, World of Neopets has been a global-facing, Web3 gaming development company. Their ambitions are to revive Neopet’s IP and bring it into the metaverse for veteran Neopians and newcomers alike worldwide. Through offering free company cards, helping them to save transaction costs and streamline their expense management, Airwallex is able to support World of Neopets’s global expansion plans.
“Airwallex has been a great supporter in the sense where we can recruit team members from all over the world without worrying about the admin tools behind it.”
Dominic Law, CEO of World of Neopets
Airwallex helps globally-minded companies grow their business on an international scale. If your business is looking to optimise and save on global payment transfers, open a free Airwallex account today.
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