Fintech Airwallex is amping up its B2B payments product rollout, making use of its status as a non-bank issuer of Visa cards.
Dubbed the Airwallex Borderless Card for business, the company is chasing clients in Australia initially, with the selling point they "will be able to generate and issue multi-currency virtual payment cards to pay suppliers in seconds".
By the end of the current quarter, the product will be widened to offer multi-currency corporate cards.
Airwallex said "customers will be able to generate individual corporate cards instantly, bypassing traditional processes that require extensive paperwork, hefty annual fees and bank queues".
CEO Jack Zhang played up this angle as part of a panel with Visa at the Pause Fest innovation festival in Melbourne yesterday.
"We bet on infrastructure, we partnered with Visa rather than with a bank sponsor," Zhang said.
"It gives us a long term cost advantage to others."
There are no monthly fees and no card fees on the AIrwallex corporate card, and a margin of 0.3 per cent on the most common currencies.
The corporate cards are for now available in physical form, with a virtual rollout by June in digital wallets and the Airwallex app.