Putting for profit: golfscape drives financial operations efficiency around the world

Introducing golfscape

Defining itself as the Expedia for golf, golfscape has transformed the traditional golf course booking process. Founded 11 years ago in the UK, golfscape has revolutionised how golfers discover, plan and book their golfing experiences.

golfscape offers a modern, user-friendly platform to instantly connect golfers with exciting destinations worldwide. From the Caribbean to Asia, golf enthusiasts can seamlessly book their tee times in remote locations in a few clicks.

golfscape drives growth for hundreds of golf operators and resorts while providing an enjoyable tee time booking experience for customers.

The Challenge

At the core of golfscape is its vision to support the development of the industry by building a modern infrastructure for golfers and courses to connect.

Coupled with this is the company’s recognition of golfers’ aspirations to tee off in exotic locations, without hassle.

Being rooted in the UK afforded golfscape access to a UK bank account to service their financial operations.

But despite partnering with Braintree, the payment processor, golfscape was restricted to processing and settling funds in a single currency, GBP, and even that was a headache.

Transacting in foreign currencies resulted in exorbitant fees and carried considerable foreign exchange (FX) risk for golfscape, meaning they were losing margins.

Fundamentally, these obstacles were hindering golfscape’s global expansion plans.

To reach customers and resorts in remote places, golfscape needed a reliable financial infrastructure to be able to transact in multiple currencies via fast and cost-effective channels on a global scale.

“The number of currencies offered by a provider has always been paramount to us,” begins Rudy, golfscape founder and CEO. “We might need to charge a customer in Canada, receive the funds in British pounds, then pay out in Thai Baht to the resort,” explains Rudy.

golfscape began establishing in-country banking relationships to facilitate payments, but found this approach very inefficient. In search of a solution, Airwallex caught Rudy’s attention.

Rudy Mukhaimer

Founder & CEO of golfscape

“Before Airwallex, when we considered a new market with a new currency, we really had to evaluate it carefully. The transaction fees were so high, it was a real headache.”

The Solution

Extensive currency coverage

By partnering with Airwallex, golfscape now has multiple currency workflows, enabling them to process, settle and hold funds in a wide range of major and exotic currencies.

golfscape can process over 100 currencies and directly settle in over 10 currencies. Many of these are exotic currencies, like Thai Baht, Vietnamese Dong and Arab Emirates Dirhams which many providers don’t offer.

Reduced FX exposure

By combining Airwallex Global Accounts and its FX and transfers services, golfscape can make fast, low-cost payouts to its global customer base. Switching to Airwallex has eliminated hidden transaction fees and unnecessary conversions, saving the company considerable cost.

Plus, Airwallex’s favourable and predictable FX rates have helped golfscape immensely, as Rudy explains; “With Airwallex, our FX is fixed, so that uncertainty and exposure to risk has been massively cut.” This has had a positive impact on golfscape’s bottom-line.

“I can keep my balances in a low-cost environment and use funds easily without incurring the exorbitant fees that the banks charge,” adds Rudy.

Driving scalability

Adding new markets to golfscape’s offering is no longer the headache it once was. “Before, I had to fly out to each country we work in to meet with banks, which was very cumbersome,” says Rudy.

Airwallex’s global payments solution means that golfscape can do business anywhere, and can scale more efficiently.

Boosting efficiencies with technology

Partnering with Airwallex has also streamlined golfscape’s treasury management. Rudy is thrilled by the technological efficiency that Airwallex offers. “I can process 50 to 100 payments in 30 minutes using Airwallex,” he explains, saving him valuable time.

When asked what sets Airwallex apart from its competitors, without hesitation Rudy replied; “Top of the list for me is Airwallex’s technology and ease of use.”

Fundamentally, partnering with Airwallex has unlocked golfscape’s ability to return to running a golf business, instead of trying to be a payment solutions provider.

Rudy Mukhaimer

Founder & CEO of golfscape

“With Airwallex, I can roll out my business anywhere – UAE, Vietnam, Mexico, Indonesia – without needing to build local banking relationships.”