How Ginger leads a successful digital transformation with Airwallex
Discover how Ginger uses Airwallex to better suit their needs for running an eCommerce-focused brand.
saved in overseas payments transaction fees
time saved in expense management hours
needed to successfully open an Airwallex global account
Founded in 2008, Ginger is a fashion brand that promotes Hong Kong designs through collaborating with different local creators. When the pandemic hit, their founder Ken Ma took their brick-and-mortar business online to adapt to the changes in the retail industry.
To accomplish the update in their business model, Ginger switched over from traditional banks to Airwallex to better suit their needs for running an eCommerce-focused brand. The whole process of opening their Airwallex business account took less than 48 hours, making it a truly seamless transition.
Today, Ginger no longer relies on the services of traditional banks as Airwallex offers a one-stop platform for all their needs.
Challenge 1: Expensive foreign exchange rates and transaction fees when making overseas payments via traditional banks
As a homegrown brand that champions local talents, Ken works closely with many Hong Kong designers to create Ginger’s designs. In the last few months, a number of these designers have relocated overseas, which presents a royalty payment challenge for Ken as he needs to transfer money internationally to pay them.
In the past, Ken faced expensive foreign exchange rates and transaction fees when making overseas payments via traditional banks. He also found that there is a lack of transparency with many of these online banking platforms and that they are inconvenient and difficult to use.
Solution & Results: Airwallex helps minimise 99% of transaction fees for overseas payments
Using Airwallex transfers function, Ken can directly pay his overseas designers without having to go through the SWIFT network, saving up to 99% in international transaction fees.
Founder of Ginger
“Since using Airwallex, we basically don’t have to use traditional banks anymore. From receiving and sending payments to expense management, Airwallex is our one-stop solution for accounting and finance."
Challenge 2: Ginger relied on a heavily manual process of expense management
Before using Airwallex, Ginger relied on a heavily manual process of expense management. For every single business expense they made – from placing printing orders on E-Print to sending off overseas deliveries at the post office and paying for social media ads – employees used their personal credit cards or asked Ken to pay for the spending. To get reimbursed for their business purchases, the team had to first download their card statements from the bank, and then export them to a spreadsheet at the end of each month for accounting purposes. Ken had to go through the submitted spreadsheet and pay each employee back – a time-consuming and inefficient process.
Solution & Results: Airwallex helps cut down 90% of time spent on expense management
By using Airwallex for handling and reporting their expenses, the Ginger team is able to free up valuable time from dealing with tedious expense claims to focus on growing the business. After creating an Airwallex business account for Ginger, Ken is able to immediately create Visa cards for his employees online and use the expense management functions.
Founder of Ginger
“We applied for Airwallex Borderless cards right away and they helped us minimise 90% of time spent previously on tracking expenses and reimbursing employees.”
See how our customers are finding Airwallex
"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."
Interim CEO & Chief Financial Officer, PURE Group
"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!"
"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!
“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.
“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.
Marketing and Development Director, LUÜNA naturals
“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