Airwallex and Visa work together to launch borderless cards

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Valentina Vitali
Valentina Vitali
FXC Intelligence Research Analyst
Valentina is a Research Analyst at FXC Intelligence, the data sister company of FXcompared. Valentina is passionate about payments and fintech. Valentin enjoys analysing money transfer companies and… Read more
  • Financial technology company Airwallex has confirmed that it will collaborate with the internationally known payments brand Visa as part of a new push to provide ‘borderless cards’ to customers in Hong Kong.
  • The cards, which are digital-only, are currently aimed only at consumers and offer a range of benefits, including enhanced security and greater transparency.
  • A senior figure at Airwallex said that the company was excited about the move and the prospects it offered – especially given that demand for non-physical, non-traditional cards was now rising.

Two major names in the finance and payments world have announced a new collaboration to serve customers in Hong Kong.

Visa, which is a well-known payment technology conglomerate, will pair up with the financial technology company Airwallex to provide a new ‘borderless card’ for customers there.

This card will give people in Hong Kong the ability to make virtual payments on a multi-currency basis, including cross-border payments.

It will be easier for online subscriptions to be managed and paid for, for example.

Both single-use and multi-use cards will be on offer.

Higher levels of visibility around payments will also be on offer thanks to individual transaction limits.

While the current offer focuses on consumers, it is expected that corporate customers will be able to benefit in future thanks to the potential provision of corporate cards.

The virtual card bears some resemble to its physical counterpart.

For example, it contains a 16-digit number and an expiry date.

However, it exists only in the digital sphere, which adds an extra layer of security.

In a statement, the Greater China chief executive officer and group chief finance officer of Airwallex said that the level of demand for these type of cards has been rising and rising.

“Demand for virtual cards has been accelerating as businesses look for a modern solution to not only transact money, but to also control their finances, optimise spending and enhance their security and protection,” said Kai Wu.

He went on to say that the company was excited about the potential for the collaboration – and added that accessibility will be improved by the move.

“As we continue to empower businesses to grow without borders, we are very excited to launch the Airwallex Borderless Card in Hong Kong in collaboration with Visa,” he said.

He said that Airwallex would look to keep its product offering fresh as time went on.

“The global accessibility and the ability for customers to transact in multiple currencies with this card further bolsters Airwallex’s product stack as we look to continuously enhance our offering, providing our customers with a one-stop shop for their cross-border payment needs,” he added.

If you are on the hunt for more information about the firms mentioned in this article, or you want to get an overview of what others in the online money transfer sector can offer, just go to our reviews pages and learn more about them.


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