World of Neopets fast tracks global payments and saves HK$200 per transaction
How Airwallex’s all-in-one Global Business account helps World of Neopets foster a network of top talents from around the world.
saved in global payment transfer time
saved in FX rate
saved per foreign transaction
World of Neopets Limited is a Hong Kong-based game development company. They are best known for building World of Neopets, which is a remake of the classic Neopets game.
As a global-facing company, World of Neopets works with game developers and suppliers from all around the world and boasts an international customer base. They need an efficient expense management system that can facilitate and track global payroll and transactions seamlessly for them.
CEO of World of Neopets
“Airwallex has been a great supporter in enabling us to recruit team members from all over the world without worrying about the admin tools behind it.”
Challenge 1: Expensive foreign transaction fees and exchange rates
World of Neopets works closely with developers and suppliers based in different countries, which means they have to make frequent foreign transactions. However, these transactions were costing them a lot of money due to the high exchange rates and transaction fees charged by traditional banks.
Solutions & Results: Save up to $25 per foreign transaction using Airwallex’s Global Business Account
After opening a free Global Business Account with Airwallex, World of Neopets is able to easily make foreign transactions without incurring high fees. With their Airwallex multi-currency account, which offers competitive exchange rates and significantly lower transaction fees than traditional banks, World of Neopets is saving up to HK$200 for every foreign transaction and 1-3% on FX rates. This adds up to a significant amount of savings over time.
Challenge 2: Slow and delayed bank transfers
When World of Neopets was making global payments through traditional banks, it often took 2-3 days for their transfers to reach their recipients. This delay in time affected their cash flow and caused inconvenience to their suppliers. World of Neopets needed a solution that can provide fast and efficient foreign transaction services.
Solutions & Results: Make fast global payments with Airwallex
Using Airwallex, World of Neopets can transfer funds to their suppliers instantly, with no delay. Airwallex taps into a global network of local bank accounts, which enables them to offer fast and low-cost transfers. Their user-friendly platform also makes it easy for World of Neopets to manage their transfers and track their payments.
Operations Manager of World of Neopets
“Airwallex offers a lower currency rate for their foreign transactions. We can also pay like a local.”
Challenge 3: Stuck with time-consuming manual bookkeeping
World of Neopets relied on spreadsheets for manual bookkeeping, which was time-consuming and prone to human errors. They needed a more advanced expense management system that could integrate with Xero and streamline their auditing process.
Solutions & Results: Easy expense management using employee cards
Using Airwallex, World of Neopets can easily issue company cards for their employees within a few clicks. They can set up spend limits for each card and monitor employee expenses in real-time – eliminating the need for manual bookkeeping with just one step.
Airwallex also offers a seamless Xero integration for tracking and reporting employee expenses, which helps to further automate World of Neopets’s expense management process.