Airwallex vs BigPay Malaysia (2026): What's the difference?

Key Takeaways:

• BigPay is a personal digital wallet for individuals. It holds RM, supports transfers to 45+ countries, and is built around everyday spending, bill payments, and AirAsia points.

• Airwallex is a business financial platform. It gives Malaysian companies multi-currency Global Accounts, transfers to 200+ countries, and batch payments.

• If you run a business that pays overseas suppliers or collects international payments, Airwallex is purpose-built for those needs. BigPay is not designed for business use.

If you’re comparing Airwallex vs BigPay in Malaysia, the short answer is that they serve different needs. BigPay is built for personal use, while Airwallex is designed for businesses.

So the real question is: who are you managing money for? This guide breaks down both tools to help you decide quickly.

What is BigPay?

BigPay is a personal digital wallet and prepaid card app available to Malaysian residents. It launched as a product tied to the AirAsia ecosystem and has since grown into a full-featured personal finance app.

With BigPay, your account holds RM and comes with a Visa or Mastercard accepted at 40 million merchants worldwide.¹ You can send money to 45+ countries, pay local bills, manage your budget, and access personal loans, all from the BigPay app.² BigPay is regulated by Bank Negara Malaysia as a licensed e-money issuer.

What is Airwallex?

Airwallex is a global business financial platform built for companies that move money across borders. In Malaysia, it gives businesses a multi-currency account to collect, hold, convert, and send funds — without going through a traditional bank.

With Airwallex, you can open local currency accounts in 20+ countries, pay suppliers in 200+ countries, and manage everything from a single dashboard. Airwallex is regulated by Bank Negara Malaysia as a licensed remittance business under the Money Services Business Act 2011.

What you can do with BigPay

Here's what the BigPay app lets you do:

• Spend with a card — your account comes with a Visa or Mastercard accepted at over 40 million merchants worldwide, online and in-store¹

• Send money internationally — transfer to 45+ countries via bank account or e-wallet, with fees and exchange rates shown upfront before you confirm²

• Pay local bills — settle utilities, mobile top-ups, and other bills directly from the app³

• Track your spending — the app categorises your expenses automatically so you can see where your money goes³

• Save with Stashes — set aside money for specific goals within your BigPay account³

• Earn AirAsia points — every time you spend with BigPay, you earn points linked to the AirAsia rewards programme³

• Access personal loans — BigPay offers fully digital personal loans with funds disbursed to your account within minutes³

• Pay with DuitNow — scan and pay at merchants using DuitNow QR³

Worth knowing: BigPay's fees and exchange rates are not listed publicly on their website. You'll need to open the app to see the exact amounts that apply to your transfer before you confirm.

What BigPay doesn't do

BigPay is a personal product. It's not the right tool if your needs are business-related:

• No business account — there's no company onboarding; every transfer goes out under your personal name

• No inbound international payments — you can't collect payments from customers abroad into your BigPay account

• No foreign currency holding — your balance is held in RM only; a conversion applies every time you spend or send in another currency

• No multi-user access — no approval workflows, no team permissions, and no batch payment tools

What you can do with Airwallex

Here's what Airwallex gives Malaysian businesses:

• Open multi-currency Global Accounts — get local account details in 20+ countries and collect payments in currencies like USD, GBP, EUR, SGD, and AUD, in your company's name

• Send money internationally — transfer to 200+ countries and regions, with 93% of transactions arriving on the same working day and 45% arriving instantly

• Access interbank FX rates — convert currencies at competitive rates with no hidden markups, and choose when to convert so you're not forced into unfavourable rates

• Make batch payments — pay up to 1,000 recipients across different countries and currencies in one go, using a simple upload template

• Set approval workflows — assign user permissions to your team and require sign-off on transfers above a set amount

• Integrate with accounting software — connect directly to Xero, QuickBooks, or NetSuite for automatic reconciliation

• Manage everything in one dashboard — view your global balances, track transfers in real time, and manage multiple currencies from a single account

Worth knowing: Airwallex has no account opening fees, no monthly charges, and no minimum transaction requirements. You only pay when you convert or transfer.

What Airwallex doesn't do

Airwallex is a business-only platform. It's not the right tool if your needs are personal:

• No personal accounts — onboarding requires company details; individuals can't sign up

• No personal debit card — corporate cards are available for business expenses, not everyday personal spending

• No remittances to family — for sending money to relatives abroad, a personal app like BigPay is the better fit

• No personal finance features — no personal loans, budgeting tools, or DuitNow QR for consumer payments

Airwallex vs BigPay: How they compare

BigPay and Airwallex are built for different users, so most of their features don't overlap. Here's a side-by-side look at how they stack up across key features:

The information in this table has been reviewed to be accurate as of 23 April 2026.

BigPay vs Airwallex: International transfers

Transfers are where the two tools differ most: not just in reach, but in who they're designed to serve.

BigPay

BigPay lets you send money to 45+ countries² via bank account or e-wallet. Fees are fixed per transfer and shown upfront in the app before you confirm, so you know exactly what your recipient will receive.²

The exchange rate is competitive and displayed before you send, though the final rate is confirmed at the time of transfer. BigPay is built for personal remittances — sending money to family or friends abroad.

Worth knowing: BigPay's fees and exchange rates are not listed publicly on their website. You'll need to open the app to see the exact amounts that apply to your route before you confirm.

Airwallex

Airwallex supports transfers to 200+ countries and regions. 94% of our payments are routed through local payment rails, which means no SWIFT fees and faster delivery. 93% of transactions arrive on the same working day, and 45% arrive instantly.

You pay a transparent FX margin when a currency conversion is required, with no hidden transaction fees. Airwallex is built for businesses paying overseas suppliers, contractors, and employees — not for personal remittances.

Why Malaysian businesses choose Airwallex over BigPay

Many Malaysian business owners start out using BigPay for travel, remittances, or day-to-day spending — and it works well for that.

But once business needs come into play, the limitations show up quickly. With BigPay, you don’t get a company account, you can’t collect payments from overseas customers, and there aren’t tools to manage payments at scale.

That’s where Airwallex comes in. It’s built for business use, and here’s what it offers Malaysian companies that BigPay doesn’t:

• Collect in your company's name — open Global Accounts in 20+ countries and receive payments in USD, GBP, EUR, SGD, AUD, and more, without conversion on arrival

• Pay suppliers anywhere — send transfers to 200+ countries. International transfers via local rails are free, with no transfer fees.

• Save on FX — access interbank exchange rates that let you save up to 80% on FX fees

• Pay multiple suppliers at once — batch payments to up to 1,000 recipients across countries and currencies in a single upload

• Keep your team in control — set user permissions and require approval on transfers above a set amount

• Simplify your books — connect directly to Xero, QuickBooks, or NetSuite for automatic reconciliation

• No fixed costs — no account opening fees, no monthly charges, and no minimum transaction requirements

Frequently asked questions (FAQs)

Can I use BigPay for my business in Malaysia?

No. BigPay's own Terms and Conditions state that the card can only be used for personal reasons and must not be used for commercial or business purposes.⁴ There is no business account, no company onboarding, and no multi-user access. If BigPay suspects commercial use, it may suspend or terminate your account. For business payments, you'll need a dedicated business platform.

Does Airwallex work for personal use in Malaysia?

No. Airwallex is designed for businesses only. You can't open a personal account, use it to send money to family abroad, or manage personal finances through it. If you need a personal digital wallet, BigPay is the more suitable option.

Are BigPay and Airwallex regulated in Malaysia?

Yes, both are regulated by Bank Negara Malaysia. BigPay is a licensed e-money issuer under BNM.³ Airwallex is licensed as a remittance business under the Money Services Business Act 2011 (Licence No. 00743). Neither is a bank, so funds are not covered by PIDM deposit insurance — but both operate under BNM oversight.

How many countries can I send money to with BigPay vs Airwallex?

BigPay supports transfers to 45+ countries for personal remittances.² Airwallex supports transfers to 200+ countries and regions for businesses. The two tools also differ in structure: BigPay sends from your personal account, while Airwallex sends in your company's name with approval workflows and batch payment capability.

Can I use Airwallex to collect payments from overseas customers?

Yes. Airwallex Global Accounts give you local bank details in 20+ countries, so overseas customers can pay you in their local currency — USD, GBP, EUR, SGD, and more — directly into your business account. BigPay does not support inbound international payments.

Is BigPay or Airwallex cheaper for international transfers?

It depends on what you're transferring and why. BigPay shows its fees and exchange rate upfront in the app before you confirm a personal transfer.² Airwallex charges a transparent FX margin on currency conversions for businesses, with no monthly fees and no SWIFT fees on local rail transfers. The two tools serve different use cases, so a direct cost comparison isn't straightforward — BigPay is for individuals, Airwallex is for businesses.

Sources:

1. bigpayme.com/card/

2. bigpayme.com/transfers/international-bank-transfers/

3. bigpayme.com/

4. bigpayme.com/more/legal-malaysia/

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn. Bhd., a company incorporated under the laws of Malaysia with company registration number 201801007747 (1269761-X), is regulated as a licensed remittance business under the Money Services Business Act 2011 (Licence number 00743 with an expiry date of 3 August 2028, an E-Money Issuer and a registered merchant acquirer under the Financial Services Act 2013.