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

Global Accounts
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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."

See how our customers are finding Airwallex

Airwallex Testimony
"Airwallex is an innovative fintech platform with a first-class customer support team. They transformed the previously painful process of creating corporate cards and managing business accounts into something simple, convenient, and cost-effective. The onboarding was quick and smooth, the security features exceeded our expectations, and most importantly, it is really easy to use. Airwallex saves a lot of my team's time and the simplicity is genius."
Gavin Black

Interim CEO & Chief Financial Officer, PURE Group

Airwallex Testimony
"I’m so thankful that Airwallex exists! In Hong Kong, it's so hard to find financial service providers that are friendly to small businesses. Airwallex allows me to exchange currencies at really great rates, and the interface is very modern and easy to use compared to my bank. We save so much money with Airwallex! In just a few months, we've already saved more than HKD$78,000 in unnecessary fees!"
Jennifer Chong

CEO, Linjer

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"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 to save money on every bank transfer with their near-zero transaction fee and market-beating FX rates. We also use Airwallex's multi-currency virtual Visa cards for all our 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!
Henson Tsai

Founder, SleekFlow

Airwallex Testimony
“Airwallex provides us with flexibility and cost savings on our international fund flows. We are using Airwallex to pay international suppliers and are saving up to 90% on transaction fees and FX verses traditional banks - thanks to their competitive exchange rate and low transaction costs.
Kelvin Kan

Founder, Homemakase

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“Airwallex's global payment solutions help us to save costs on international transaction fees & FX, fostering our mission to increase access to healthy period care that's better for our bodies and the planet.
Becks Bradley

Marketing and Development Director, LUÜNA naturals

Airwallex Testimony
“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.
Sarah Chang

Co-founder & COO, Forkast.News

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