January release note: Streamlined bulk transfer approvals on mobile, instant transfers through Airwallex Pay, and more
In this latest release, we're introducing a range of powerful updates designed to make your financial operations more efficient, flexible, and easier to manage. Whether you're looking to streamline business account transfers or simplify expense management, we've got you covered. These new features and improvements are aimed at supporting your growth and helping you manage your workflows with greater precision and speed.
Business Accounts
Bulk transfer approvals on iOS and Android ⏩
Managing transfer approvals while on the go just became much more efficient with the introduction of bulk approval functionality on both iOS and Android. Previously, customers were required to approve each transfer individually, which could be time-consuming, particularly for larger volumes of transfers. With this update, you can now select multiple transfers and approve or reject them in bulk, streamlining the approval process.
This improvement extends to Android users, who can now view and approve transfers directly from the mobile app – functionality that was previously only available on iOS. By making transfer approvals faster and more intuitive, we’re helping you save valuable time while you manage your business on the go.
New transfer capabilities for Hong Kong & Singapore 🇭🇰🇸🇬
We’re pleased to announce the release of two new local transfer capabilities, making payouts to Hong Kong and Singapore more seamless and flexible than ever. Customers can now transfer to:
Hong Kong FPS Proxy IDs: Send payments using alternative identifiers like phone numbers, email addresses, HKIDs, or FPS IDs.
Singapore FAST PayNow IDs: Transfer funds using PayNow IDs tied to phone numbers, personal NRIC/FINs, business UENs, or PayNow VPAs.
Coming soon: NL IBANs with EUR direct debit payouts 💲
We’re thrilled to introduce EUR Global Accounts (GAs) with NL IBANs, bringing seamless payout capabilities to all Airwallex entity customers. With this update, you’ll be able to receive EUR deposits and process EUR direct debit payouts, making payouts for taxes, bills, and marketplace refunds easier than ever.
Key Benefits:
Faster payments with SEPA, SEPA Instant, and TARGET2—settling in as little as 1 day.
EUR Direct Debit support for smooth payouts, with no transaction limits.
Default EUR GA for all Airwallex entities, simplifying your payment setup.
Coming soon: GBP Global Accounts with Clearbank & Bacs direct debit payouts 🏦
We’re excited to announce the upcoming integration of Clearbank as our new GBP global account provider, bringing enhanced flexibility and smoother payment experiences for our customers. With Clearbank, customers will gain access to a range of powerful features, including local and international payments, Bacs Direct Debit payouts, and more. This new partnership eliminates previous friction points and improves the customer experience with clearer industry restrictions and a longer rejection period for pending direct debits (39 hours vs. 6 hours). Key benefits for existing customers:
Expanded payment options: Accept SWIFT transfers alongside local methods like Faster Payments and Bacs Direct Credit.
Faster settlement times: Enjoy near-instant settlement for Faster Payments and CHAPS, with no transaction limits on most methods.
Streamlined onboarding: Clearbank offers more predictable account openings with clearer country and industry restrictions.
Coming soon: Transfer through Airwallex Pay 📈
We are excited to announce the upcoming release of Transfer through Airwallex Pay, which will allow you to make instant wallet-to-wallet transfers directly within the web app.
With Airwallex Pay, you will be able to transfer funds instantly to another Airwallex account without the typical delays associated with traditional payments. These transfers will be free for direct wallet-to-wallet transfers and processed instantly, allowing for faster, seamless transactions with vendors or buyers. By leveraging our secure financial infrastructure, this feature enhances your ability to move funds efficiently while creating new opportunities for engagement and collaboration with your network. Stay tuned for more updates.
Spend
Streamline expense submissions with delegation 🌐
We’re pleased to introduce a new delegation feature that simplifies expense submissions and reduces administrative overhead. Starting in January, users can delegate expense-related tasks to team members – such as executive assistants – without compromising security or giving access to sensitive financial data.
This feature lightens the workload for administrators and frees up executives from time-consuming tasks, resulting in more efficient and seamless expense management processes across your organization.
The new feature will be available in stages, starting with Netsuite users this month and expanding to Xero users in February, with support for additional accounting platforms and customers without an accounting connection arriving later this quarter.
Multi-select support for Netsuite custom segments and fields 🔗
We have extended the compatibility released for Netsuite custom segments and fields to include multi-select fields. Similar to single-select list types, Airwallex will import all desired fields and enable employees to code expenses with them while submitting expenses.
This feature is exclusively available to Netsuite customers using the Global Entity Management feature. To activate both features, reach out to your customer support rep or account manager.
Bill Pay: improved UX for accounting provider sync 🔄
We’ve made syncing bills with accounting providers more intuitive and automated. Bills that need to be updated in order to resync now have the "Save changes" button clearly labeled as "Save and resync". Bills attempting to resync will display a resyncing icon in the bills table, and once complete the table will automatically refresh to reflect the latest sync status. These enhancements make it easier to keep your bills correctly synced.
Platform API and Embedded Finance
Dynamic billing currency on Issuing platform 🌍
We’re thrilled to announce the general release of dynamic billing currency on the Issuing platform, starting with support for ILS (Israeli New Shekel) for customers in Israel. This update expands our billing capabilities beyond the 10 default currencies (AUD, CAD, CHF, EUR, GBP, HKD, JPY, NZD, SGD, USD) to include local currencies for specific regions, enhancing flexibility and supporting both new market launches and existing customer demand. This improvement strengthens our value proposition in diverse markets and enables growth by offering more localized billing options.
Additional improvements
Airwallex JavaScript (JS) Reference Site launch 🚀
We’re excited to simplify integration for front-end developers by launching the Airwallex JavaScript (JS) Reference Site, starting with the Payments module. Previously, developers faced challenges navigating scattered documentation, particularly our small and medium-sized enterprise customers (SMEs) that may have limited technical resources. The new reference site centralizes all relevant, up-to-date guidance in one place. We plan to expand it further with sections covering Transfers, Tax Forms, Risk, and Onboarding Elements.
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