Airwallex delivers a healthy growth supplement for Simply Nootropics

With Airwallex handling the financial heavy lifting, Simply Nootropics is scaling from New Zealand to global markets. Learn how our partnership cleared the path for the business’s international growth, without the usual payment and eCommerce integration headaches.

We spoke with Stuart Vaughan, Co-Founder and COO of Simply Nootropics, about how his team use Airwallex to run global payments and eCommerce operations, bringing together standout products with smart marketing and efficient business systems.

The challenge

As Simply Nootropics expanded beyond New Zealand to Australia, managing international payments became increasingly complex and costly. The business was relying on traditional banks and PayPal, which made it difficult to accept payments in multiple currencies and set up the right local infrastructure.

“It was challenging,” Stuart says. “To get set up properly, various service providers told us we needed an Australian bank account, which meant getting an ABN, and a whole host of other things that weren’t easy to manage as a growing business.”

Stuart and Co-Founder, Anthony Baxter, found they were also running into significant hidden costs. Since Simply Nootropics used Shopify as its eCommerce platform, payments were being deposited into its New Zealand bank account, but not without a fee.

Smoothing out the payment process created a positive domino effect on business performance. 

Stuart Vaughan

Co-Founder and COO

"Shopify was taking a big chunk through their FX rate of about 8%, which added up."

The solution

Solving eCommerce payment problems

Simply Nootropics first discovered Airwallex through an eCommerce founders group, where members regularly shared insights on scaling and managing international operations.

“Everyone was sharing tips on how they handled cross-border payments, and Airwallex kept coming up.”

After looking at different options, the choice was clear. “Airwallex stood out for its great rates, excellent customer service, and how smooth the onboarding process was. Compared to the usual hurdles you hit with banks, it was weirdly easy,” he adds.

Stuart Vaughan

Co-Founder and COO

"Airwallex slotted in really well. It let us set up an Australian bank account without jumping through all the hoops, and we avoided those big FX fees from Shopify."

Reducing fees for cross-border payments

Switching to anAirwallex Global Account enabled Simply Nootropics to setup local account details for each new region they started to operate in – letting them send and receive funds like a local. This simplified payment infrastructure delivered immediate savings.

“At the time we made the switch to Airwallex, it saved us around $10,000 a month. Those savings gave us the flexibility to invest in things like upgrading to Shopify Plus and making the business stronger overall.” Stuart notes. “It’s also simple to use, which is key for me, and we’re saving money on foreign exchange and transfer fees. That flexibility is a big part of what’s supporting our international growth.”

Faster expansion with local account details

While Simply Nootropics initially focused on Australia and New Zealand – markets it could service easily – it soon identified strong demand in Singapore, the US and Europe. This meant more cross-border payments, meaning the savings from reduced fees became even more substantial. The team used Airwallex to quickly get new local banking details as the business expanded into new regions – without the drawn-out processes often required by legacy banks.

Stuart Vaughan

Co-Founder and COO

"It’s made it incredibly easy to receive and make payments. We can pay our Australian suppliers in AUD when we need to, and as our sales in the US continue to grow, we’ve been able to start paying suppliers in USD as well, which has been a huge help."

Scaling with focus and the right partners

Simply Nootropics has only just begun its global expansion and sees significant opportunity ahead. “We’ve really just scratched the surface,” Stuart says. “There’s a lot of growth still to come, particularly in markets like the US, Europe, the Philippines and Indonesia.”

Stuart Vaughan

Co-Founder and COO

"Airwallex gave us flexibility, particularly in Europe, where other payment providers made it harder to operate. With the Shopify plugin, we’ve been able to integrate Airwallex directly into our eCommerce flow, which makes it much easier to continue serving customers in these regions compliantly and confidently."

With Airwallex continuing to provide flexible, scalable infrastructure, Simply Nootropics is well-positioned to expand into new markets without the headache of traditional banking partners.

“For Kiwi businesses, Airwallex makes a lot of sense,” Stuart concludes. “What we’ve found is that it gives us access to the kinds of tools usually only available for much larger companies, without the complexity or overheads. The savings on international transactions alone are a huge benefit, especially for eCommerce businesses looking to grow beyond New Zealand.”

Disclaimer: The information contained herein is factual information only and is not intended to imply any recommendation or opinion about a financial product.