Airwallex Release notes: Earn returns on your money with the launch of Yield in Australia and take advantage of Payments enhancements image

Airwallex Release notes: Earn returns on your money with the launch of Yield in Australia and take advantage of Payments enhancements

New products, enhancements and upcoming arrivals

Posted byAirwallex
onThursday, 9 November 2023

Product Launch:

Airwallex Yield

Australian customers can now earn competitive returns on their money. Businesses have the opportunity to earn up to three times the returns on their AUD funds compared to major banks.

Additionally, they can, for the first time, earn returns on USD through Airwallex’s investment in JP Morgan’s low-risk money market funds. No minimum lock-up period or penalties for fund withdrawal, providing flexibility for business growth.

Yield will be available to all Australian customers in early 2024 and to customers in additional markets in 2024. Learn more and join the waitlist here.

Product Enhancements:

Airwallex Bill Pay

iOS users can now approve bills from their phones using Airwallex Bill Pay. Manage each step of paying a bill, from uploading the invoice to approving, paying, and reconciling, all within the Airwallex app. For efficient accounts payable management, try Bill Pay today.

Payments features

  • Greater Transparency in Merchant Reports: Updated reports offer more transparency on fees and expected settlement times for individual transactions. View a breakdown of fees and additional information in your merchant reports.

  • Hold and Capture Customer Payments: Put customer payments on hold, reserve funds, and capture them up to 30 days later for Visa, Mastercard, and Klarna payments. Useful for businesses like hotels requiring customer deposits.

Faster Global Transfers

The enhanced payout engine enables faster global transfers by extending cutoff and processing times for various methods, such as 24/7 processing for Hong Kong Faster Payment System (FPS) payouts.

Coming soon:

US customers can soon accept global payments online with an optimized checkout 🇺🇸.

Beta customers are currently being onboarded to Airwallex's online payments solution, offering popular payment methods like Apple Pay, Klarna, and major credit cards. Businesses can settle earnings in multiple currencies directly into their multi-currency Wallet, avoiding forced currency conversions.

Integration options include no-code plugins with platforms like Shopify, Magento, and WooCommerce, or a fully customizable checkout through the API. Payment links and QR codes for invoices, emails, and SMS are also available. Airwallex Payments is already available in Australia, Singapore, Hong Kong, the UK, and Europe, with excitement building for its availability to US customers.

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