- The new service will see i2c delivering payment processing services to the Airwallex platform, allowing clients to benefit from multi-currency cards powered by real-time exchange rate information
- Australia will be the first key global market to benefit, while Hong Kong and others are expected to follow on later
- “We look forward to expanding the Airwallex program to new regions in 2020 and to enabling their clients to provide individual multi-currency cards to employees”, said a senior i2c figure
International open banking tech pioneer i2c has confirmed that it will work alongside Airwallex to provide a new payments card focused on business to business transactions.
The new card will be called the Airwallex Borderless Card, and i2c will provide payment processing services for the new international money transfer service.
The service will begin life in virtual card format only, although this is expected to change further down the line when a tangible version is released.
It will offer firms the opportunity to streamline their payment sending and receipt processes.
The inaugural market in which the new service will launch will be Australia, although this is going to be followed by Hong Kong and the United Kingdom later in the year.
There are many different advantages to using the i2c platform, the firm said.
Its offer will deliver flexibility for Airwallex, which will be able to design and iterate its services as it goes about expanding around the world.
It will also be able to implement top-end security features, including validation safeguards and multiple identity verification.
The service is also notable because it will be multi-currency in nature.
It is believed that payments will be able to be converted into ten different currencies.
There will also be a chance to use instant, real-time exchange rates too for cost-efficient cross border payments.
In a statement, Ava Kelly – who serves as the global head of product at i2c – said that the firm was “proud” of the new arrangement.
“We are proud to partner with Airwallex to deliver this innovative AI and machine learning enabled corporate program that answers the critical need of today’s corporations for safer, more efficient and faster transfers of cross-border funds”, she said.
She also focused on the aspect of the arrangement that would see the cards be given to workers, too.
“We look forward to expanding the Airwallex program to new regions in 2020 and to enabling their clients to provide individual multi-currency cards to employees”, she said.
On its website, i2c says that innovation has long been a core principle for it.
“Innovation guides everything we do”, it says.
“i2c has been first to market with ground-breaking ways to deliver world-class payments solutions”, it adds.
Firms such as Airwallex and i2c are leaders in the online money transfer space.
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