September release notes: Quicker activation for Apple Pay, customisable monetisation with Application fees and improved deposit information

Payments

Quicker and easier activation for Apple Pay as a payment method 🚀

Enabling Apple Pay just got much easier for merchants using Airwallex payment plugins, as well as core API and embedded finance customers. Rather than using a manual activation process, customers can now activate and enable Apple Pay on their own via API.

This improvement will simplify introduction of Apple Pay in a few ways:

• Merchants using plugins like WooCommerce can now easily introduce Apple Pay whenever needed, similar to other payment methods and without the need for manual setup.

• Core API customers can efficiently manage their Apple Pay domain registrations by recycling retired domains and adding new domains to their existing registration, without needing to create separate merchant accounts.

• Platforms offering embedded finance to merchants can quickly integrate Apple Pay as a payment method for merchants, versus merchants needing to manually apply.

More information on this improvement is available through Airwallex Docs.

Coming Soon: Expand payment methods with Discover and Diners Club acceptance 💳

Businesses in Asia-Pacific and Europe can soon increase their business in the US by accepting Discover and Diners Club cards as payment methods. Introducing Discover and Diners Club will allow merchants to improve authorisation rates, as these are popular payment methods especially for travel and entertainment in the US.

Discover and Diners Card will soon be available as new card payment methods alongside Visa, Mastercard, AMEX, JCB and UnionPay. Availability will be phased across Asia-Pacific and European countries in the coming weeks - to learn more, please contact your customer service representative or account manager.

Coming Soon: Easily switch currencies using Afterpay within Shopify 🔄

Shoppers will soon be able to pay with Afterpay in just one to two clicks within Shopify, regardless of the checkout currency. This improvement will allow for a more seamless experience for shoppers, as well as optimising checkout currencies for merchants offering Afterpay as a payment method.

Read Airwallex’s product documentation to learn more about this upcoming feature and how to install Afterpay as a payment method for your shoppers.

Core API and Embedded Finance

Monetise your Platform solution easily through Application fees 💲

Platform customers offering embedded financial services can now automate fee collection through Airwallex Application fees. This new feature allows platforms to collect fees in real-time and on a transaction basis for a variety of options, including FX conversion fees and payout markups. Fees can be specified in any supported currency to provide additional flexibility. Furthermore, platform fees will be automatically settled and available for detailed reporting to enable transparent tracking and reconciliation.

To learn more about controlling revenue through Application Fees and enable this feature for your platform, contact your account manager or explore our product docs.

Improved visibility with enriched deposit information 📩

Airwallex API customers can now retrieve more detailed information regarding their deposits. API customers can now streamline their transaction monitoring, regulatory reporting and reconciliations by accessing multiple relevant data points in a single API call or webhook, including:

• Payer name

• Bank account details, such as IBAN or SWIFT account number information

• Deposit fees and associated currencies

• Banking provider details, such as transaction IDs or any error messages

For more information on these updates, check out the related product documentation.