August release notes: UAE AED collections, Global Entity Management, Reimbursements on mobile and more

Business Account

Grow your global business with UAE AED collections 🇦🇪

Good news for global businesses looking to expand into the Middle East and receive local deposits in the United Arab Emirates - AED Global Accounts are now available! With a local AED account, businesses can receive local currency via both domestic Immediate Payment Instruction (IPI) transfers for real-time payments, as well as Real-Time Gross Settlement (RTGS) transfers for same day transfers. This allows businesses to avoid costly FX conversion fees and collect funds more flexibly in local currency.

You can now create an AED Global Account within your Airwallex account via the Wallet tab. To learn more about Global Accounts, visit our Help Centre.

Streamline account management with Multiple Account Owners 👥

We’re pleased to announce that Airwallex Business Accounts now include the ability to add Multiple Account Owners to better mitigate single person risk. Instead of relying on a single Account owner permanently, current Account owners can now invite additional owners within their Airwallex account. Once verified, new owners will be able to perform the same actions as the original owner, including overall ownership transfer if needed. This also promotes account safety with authorised user changes or deletions.

For more information on User Access Management with Airwallex, check out our Help Centre article.

Greater transparency for transfers with updated transfer fee separation and reconciliation reports 🧾

Visibility into transfers just became much easier with new upgrades to transfer and transaction reporting. These improvements include:

• Clear visibility of transfer fees: Customers can now view any and all transfer fees as separate records in their Wallet and Xero bank feed. This will allow for easier reconciliation of net amounts (post fees) to invoices, as well as easier categorisation of transfers and transfer fees within Xero and other ERP integrations.

• Improved balance activity and transaction reporting: Businesses can now match transfers much more easily, with references and descriptions available in balance activity and transaction reports. For conversions, balance activity will now show consistently in the source and destination currency, facilitating quicker reconciliation.

Check out Airwallex’s product documentation to learn more about these updates.

Spend

Centralise financial operations with Global Entity Management 🌐💡

We’re excited to announce that Global Entity Management is now available for new customers using NetSuite. With this new feature, customers will be able to centrally manage their financial operations across multiple entities and accounts - all from within the Airwallex web app.

Using Global Entity Management allows businesses to simplify user management, have a unified view of global finances, create and maintain global spend controls, streamline spend approvals, and much more.

We’ll make a separate announcement once this feature is generally available for all customers. If you’re interested in using Global Entity Management for your business, please contact sales or your account manager.

Reimbursements at your fingertips: now available on mobile for both iOS and Android 📱

Following our launch of Reimbursements in March, we’re delighted to provide general availability for Reimbursements on mobile regardless of operating system. This update allows Android users to access all mobile features of Reimbursements previously only available for iOS, including the ability to take photos of receipts, create a reimbursement report, and track reimbursement status - all through their phone. What’s more, managers and admins using Android can now also approve reimbursements on their mobile device - further streamlining the reimbursements process.

Find out more about Airwallex Reimbursements through mobile through our Help Centre. You can also download the Airwallex application through the iOS store or Google Play store.

Payments

Coming soon: Enhanced dispute experience for merchants 📩

Merchants using Airwallex Payments for online payment acceptance will soon be able to track and resolve disputes much more efficiently. Updates will include:

• Flexible notifications: Users will be able to enable and disable email notifications, and choose whether they’d prefer individual event notifications or daily aggregate summaries.

• Proactive updates: Email notifications will be provided for any outstanding actions needed related to each dispute, ensuring full visibility into updates throughout the dispute process. These updates will also have clear detail on the dispute status and its financial impact to give merchants full clarity on the process.

• Enhanced templates: Emails will be available in templates that adhere to an organisation’s communication guidelines.

Learn more about dispute notifications for Airwallex Payments in our product documentation.

Core API and Embedded Finance

Expand global travel business with B2B travel cards, now available for Singapore 🇸🇬

Businesses operating in the travel space in Singapore now have access to specific B2B virtual cards customised for B2B travel uses. In addition to receiving rebates when these cards are used for cross-border and travel purposes, businesses can now also customise the amount of interchange on their card programs, allowing for better negotiating power with travel merchants to maxmise card acceptance.

B2B travel cards are now available in Europe, the UK, Hong Kong and Singapore, and will be coming to Australia and the US later this year.

Raise issuing disputes more seamlessly with Dispute Client API 🚀

Customers using Airwallex’s Issuing API can now raise transaction disputes directly via API, instead of using support emails to raise requests. With this update, enterprise clients can now build out and automate their own dispute workflows more easily. This functionality is available to all Airwallex customers using the Issuing API for internal or embedded finance uses. To learn more, explore our product documentation.