Sell more, save more: with American Express and Airwallex
American Express® Cardmembers spend 1.2x more per transaction and 3.9x more annually on average*, so adding American Express as a payment method to your online checkout is a bit of a no-brainer.
American Express is one of 60+ payment methods that Airwallex users can offer at their checkout. Other available payment methods include Visa, Mastercard, Apple Pay and Alipay.
Maximise sales by allowing customers to pay you the way they want
According to research from PPRO, 20% of cart abandonments are due to a lack of payment options on merchant websites.
This data is backed up by American Express, who say that 59% of their Cardmembers go out of their way to shop at places that accept American Express.**
In other words, if customers can’t pay you the way they want, they’re more likely to go elsewhere.
Airwallex is designed to help eCommerce businesses reduce friction at checkout and save on FX fees as they expand internationally. Our Online Payments software plugs into eCommerce platforms like Shopify, Magento and WooCommerce, allowing merchants to offer 60+ local payment methods at their checkout.
By allowing customers to pay you the way they want, you can reduce friction, maximise sales, and appeal to a whole new market of online shoppers.
Ravi Adusumilli, SVP Global Head of Partnerships & Business Development, Airwallex, says: “We are excited to partner with American Express, enabling Amex Card transactions for our merchants , and giving them access to an even wider variety of payment methods. This partnership is one of the steps we are taking to provide our merchants with more options that can help them grow their business, and provide greater revenue opportunities. Together with our global payments and banking infrastructure, we hope we can continue to empower businesses to scale beyond borders.”
Financial infrastructure for global businesses
According to an Airwallex poll, 70% of UK SMEs plan to expand into, or further into, foreign markets in 2023.
But amidst rising production costs and the threat of inflation, eCommerce businesses will need to keep tight control of their profit margins in order to expand successfully.
With an Airwallex account, eCommerce merchants can scale across borders whilst reducing their overheads. By plugging our software into their online store, merchants can collect payment in multiple currencies into a Global Account without being subject to FX fees, saving them up to 4% per transaction.
For example, a UK business that sells products in the US can collect payment from their American customers in dollars, hold those dollars in their Airwallex Global Account, then use them to pay international suppliers, all without converting currencies.
Airwallex also offers multi-currency cards, fast transfers and market-leading FX rates, allowing businesses to manage their end-to-end global finances on one platform.
If you’re ready to start reducing fees, expanding into new markets and maximising sales, sign up free today.
*Source: American Express® internal data for United Kingdom Cardmembers spending across Europe compared to Global Data Payment Card Analytics for transactions with domestic cards at terminals in the country and out side the country , including at physical terminals and initiated remotely, 2021
**Source: American Express® commissioned internet panel survey conducted in February 2022 – March 2022 based on purchases made in the 6 months prior to the survey. Definition of American Express® Card Members: Respondents who reported that they have an American Express® Card and that they used that card to make purchases in the prior 6 months. Definition of Non-Card Members: Respondents who reported that they do not have any type of American Express® Card and used Visa®, MasterCard®, debit cards, cash, direct transfer from their bank account (e.g., direct debit, electronic fund transfer, wire transfer), or payment services (e.g., PayPal, Visa Checkout, MasterPass) to make purchases in the prior 6 months.
Tilly manages the content strategy for Airwallex. She specialises in content that supports businesses in their growth trajectory.
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