K Dollar leverages Airwallex to manage expenses & transact with 10,000+ merchants

Jointly created by K11 and New World Development, K Dollar is a points rewards program that has amassed nearly 1 million members in Hong Kong.

Under the K Dollar program, registered members can easily earn and spend K Dollar rewards at over 10,000 participating merchants across Hong Kong and mainland China that range from retail, F&B, hotels, wellness, insurance, and more.

Having to manage such a large-scale rewards program, with thousands of participating merchants collecting and distributing K Dollar rewards daily, the company requires a one-stop solution to make payments to their merchants on time.

Challenge 1: High volumes of K Dollar transactions complicate bookkeeping process

Reaching a staggering 1 million members in Hong Kong, combined with an expanding list of participating merchants, K Dollar has to keep track of an immense amount of transactions on its system and deal with substantial settlement tasks behind the scenes on a daily basis.

Previously, K Dollar relied on a more traditional bookkeeping approach, which made the task of recording all the K Dollar transactions performed by merchants rather challenging.

Solutions & Results: Airwallex’s Global Account seamlessly facilitates K Dollar transactions

Using Airwallex’s multi-currency Global Account, K Dollar is able to track all transactions more quickly and settle payments for their partner merchants within the same day, as opposed to up to 3 days via traditional transfer methods.

Justin Chu

General Manager of K Dollar Program

"Airwallex offers both physical and virtual corporate cards tailored to the needs of different staff. Their virtual corporate card can even be set up in just 1 minute. Its features make expense management and approval processes notably easier for us."

Challenge 2: Difficult for enterprises to get corporate cards

K Dollar often spends on digital marketing services such as Meta ads, SaaS subscriptions, and virtual customer service tools like WhatsApp Business. To pay for these subscription-based services, the company has the need to create corporate cards for the marketing team. However, applying for corporate cards is often difficult in Hong Kong and has a long wait time.

Solutions & Results: Create Airwallex Borderless Cards in 1 minute

With Airwallex, K Dollar can now create Borderless Cards online for their employees in just 1 minute – skipping the long queues and tedious paperwork of going through with traditional banks.

The company can set the spend limit for each employee to ensure they always stay within the budget. With all employee spendings organised under the same account, K Dollar can easily monitor and manage employee spendings.

Even better, K Dollar saves 3-5% in FX fees by making payments with the Borderless Card, since numerous SaaS and online ad payments are charged in USD.

Challenge 3: Finding the right partner for business growth

As a new-generation rewards platform in Hong Kong, K Dollar focuses on remaining agile in response to the ever-changing business landscape and constantly develops new solutions to drive innovation.

To keep up with its constant innovations, K Dollar has to find a trustworthy payment partner that understands its needs and can provide comprehensive support.

Solutions & Results: Airwallex accelerates business growth for K Dollar with all-in-one platform

Airwallex offers an innovative financial platform for enterprises like K Dollar, enabling the company to streamline its payment and bookkeeping processes while offering excellent customer service.

Recognising the synergy between both companies, Airwallex actively expands its partnership with K Dollar by offering its SME customers K Dollar rewards. Through working more closely with Airwallex, K Dollar is able to reach a greater audience and further expand its membership base.

Justin Chu

General Manager of K Dollar Program

"At K Dollar, we are committed to delivering seamless member experiences. This goes hand in hand with Airwallex’s professional and rapid after-sales service."