June release notes: US payment acceptance updates, transparent transfers and Hong Kong B2B travel cards

Payments

Enhancements to U.S. Payment Acceptance: Self-onboarding, faster settlements, broader currency processing and more 🇺🇸

Accepting payments in the U.S. has become even easier. We’ve released a number of updates to improve the experience for our customers with a U.S. entity, including:

• Self-onboarding on the go - Customers can now request access to accepting payments directly within the Airwallex web app, and be guided through a streamlined onboarding process that’s completely self-service. Of course, support is still always on hand if required.

• Reduced settlement time - Customers who receive payments via cards can now receive settlement funds as soon as the next business day.

• Increased geographical reach - Businesses can now accept and process over 60 currencies including Mexican Peso (MXN) and UAE Dirham (AED).

• Support for travel industry merchants - We also now support U.S. onboarding for merchants offering travel services like ticket bookings or hotel reservations.

Watch this space for new features and improvements to our payment acceptance.

Business Account

Simplified, more transparent transfers ➡️

We made some additional upgrades to your transfer experiences for web app and API customers to streamline the process even further. Here are the highlights:

• Improved insight on transfer status: Customers will now have better oversight over their transfers with the introduction of “SENT” and “PAID” statuses. Transfers that have been dispatched from Airwallex to your recipient will display "SENT" status, and reflect “PAID” as your status once the payment has been fully processed by our banking partners. This way, you’ll have better visibility on your transfer status across multiple steps.

• Simpler creations for domestic transfers worldwide: Businesses can save time when making transfers to a recipient in the same country now. Customers no longer have to fill out multiple details like address and business name. Instead, businesses can simply provide the recipient bank account details and you’ll be set to go, just like with your local banking experience. The only exceptions are recipients based in the US and Canada, where recipient addresses are required for regulatory reasons.

You can learn more about creating transfers here. For more details on the new Paid transfer status, you can explore our Product Documentation.

NPP Instant Transfers now available to all Australian customers 🇦🇺

Businesses in Australia can now transfer local funds instantly using NPP (the New Payments Platform), in addition to the already-available Bank Transfer option. With NPP, payments are processed 24/7 in real time, and can be initiated using a PayID such as an email address or phone number. Enjoy faster, more seamless transfers and learn more about this new feature by visiting our Product Documentation.

Coming soon: Multiple Account Owners 🔜👥

If you’ve ever struggled with having only a single authorised owner to your Airwallex account, struggle no more. Soon, your Airwallex account will have the ability to have more than one Account owner. Original account owners can invite more users to act as owner roles as long as their identity and ability to legally represent the business have been verified. Multiple account owners will enable you to address approval bottlenecks and better mitigate single person risk, as well as streamline account ownership transfers, since new owners can be added and existing owners can be removed more seamlessly.

API

Expand your travel business with Hong Kong B2B Travel Cards 🇭🇰

We've launched B2B travel cards in Hong Kong! These cards come with additional benefits for Online Travel Agencies looking to issue cards for the purposes of B2B travel bookings. The current cards offer rebates for qualified bookings, and it will soon be possible to specify the amount of interchange for travel merchants when using these dedicated cards as well.

While only available in Hong Kong for now, keep an eye out for B2B Travel Cards coming to Singapore in the near future.