Company Announcement
Airwallex Rolls Out Virtual Airwallex Borderless Cards for U.S. Businesses
SAN FRANCISCO, 22 FEBRUARY 2022 - Airwallex, a leading global fintech platform, today introduced the U.S. Airwallex Borderless Card*, a virtual Visa card issued by Community Federal Savings Bank (“CFSB”), which enables U.S. businesses to easily make digital card payments around the world.
Airwallex customers domiciled in the United States can now instantly generate and issue multi-currency virtual payment cards that can be used to promptly pay third parties, such as vendors and other online merchants, wherever Visa cards are accepted.
The ability to pay on time and do away with barriers associated with global money transfers is critical. Using the Airwallex Borderless Card, U.S. companies can now transact in more than 140 currencies and expand more easily into new markets with confidence, knowing that payments are secure, transparent, and fast. Single- and multi-use card capability allows for more security, better control, and better visibility with company spending.
Over the coming months, Airwallex plans on expanding the U.S. Airwallex Borderless Card functionality, including the issuance of physical multi-currency payment cards for business owners and for their employees’ work expenses, further empowering them to make everyday business purchase decisions.
Airwallex and Visa first announced their collaboration in February 2020 to revolutionize the cross-border payments experience for businesses that need to make payments to multiple parties across different geographies. Airwallex debuted the Airwallex Borderless Card in Australia in 2020, and in the United Kingdom and Hong Kong in 2021.
“We are so excited to bring the Airwallex Borderless Cards to U.S. businesses,” said Shahryar Abbasi, Head of Small and Medium Enterprises – North America at Airwallex. “The Airwallex Borderless Card can help solve a number of pain points U.S. businesses often face when making cross-border payments. With the Airwallex Borderless Card, U.S. businesses will have the flexibility and control to grow their business internationally and make seamless payments in a matter of seconds.”
“Visa remains focused on bringing to life digital-first solutions to help businesses of all sizes more easily move money domestically and across borders,” said Veronica Fernandez, SVP, North America Head, Visa Business Solutions. “With today’s launch of the U.S. Airwallex Borderless Card, we’re pleased to bring these secure and convenient cross-border payment options to U.S. businesses.”
* The Airwallex Borderless Card is issued by Community Federal Savings Bank, Member FDIC, pursuant to a license from VISA U.S.A. Inc
ENDS
For more information, please contact:
Greg Steinsiek
Liz Liang
About Airwallex
Airwallex is a global payments platform with a mission to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system. Airwallex has raised US$800 million since it was established in 2015 and is backed by world-leading investors. Today, the business operates with a team of over 1,100 employees across 19 locations globally.