Xero and Airwallex have become well-recognized as leaders in Digital Transformation given their respective platform’s ability to help entrepreneurs and SMEs run and grow their business with greater flexibility, efficiency, and ease of use. However, as businesses of all sizes and industries continue to further embrace digital transformation, there is an increasing desire for all business tools to be able to integrate seamlessly with each other. In this article, we will outline what Xero and Airwallex are, and how their integration features are a perfect match to help entrepreneurs and SMEs build better businesses.
1. What is Xero?
Xero is online accounting software, developed with entrepreneurs and SMEs in mind, that offers quality features and strong usability as a cloud-based solution. Xero allows companies to manage and share access to their financial documents with their team, accountants, and bookkeepers – facilitating collaboration, transparency, and efficiency. By using cloud-based software as its foundation, Xero lets its users manage large portions of their business anytime, anywhere, and on any device.
2. What is Airwallex
Airwallex is a global fintech payment platform with a mission to empower businesses of all sizes to grow by eliminating the international borders that come with managing a global company. Airwallex has built a global financial platform to help businesses to manage payments without the constraints of the traditional financial system. Airwallex has secured over USD $500 million since it was established in Melbourne in 2015 and is backed by world-leading investors such as Tencent, Sequoia Capital, and Mastercard. Today, the business operates with a team of over 900 employees across 12 global offices.
3. How does Xero and Airwallex Work Together?
Given how essential it is to manage one’s accounting matters and finances, Airwallex and Xero have understood that their growth is fueled by their ability to integrate with other platforms to enable entrepreneurs and SMEs to grow in an increasingly borderless world.
Airwallex’s integration with Xero enables businesses of all sizes and industries to connect their multi-currency financial transactions to Xero through Xero’s bank feed connection features. This allows Airwallex users to enjoy hourly updates to their transactions and simplifies and speeds up the reconciliation process to free users of manual accounting tasks.
4. How can Airwallex Help?
One of the challenges faced by businesses is the need to deal with multiple currencies while incurring substantial foreign exchange charges and unfavorable rates.
Airwallex has launched their payment gateway in HK where clients are able to accept Visa, Mastercard, WeChat, and Alipay. The key proposition is a like-for-like settlement which means there are no forced foreign exchange conversions if you sell in USD and want to receive HKD – as well as the seamlessness of using the rest of our product suite from end-to-end.
Compared with traditional banks, Airwallex offers a more competitive foreign exchange rate and faster payment delivery with 0.2-0.6% above the interbank rate. It allows businesses to have global operations at a very lower cost securely. Airwallex has a fully online sign-up, with no setup or monthly fees so it’s easy to try it out.
- Collect and hold in 11+ currencies from your customers with US, UK, EU, and HK global accounts
- Pay overseas suppliers and staff directly from this balance and eliminate unnecessary conversion fees
- Get a full view of your global cash flow with their multi-currency Xero integration
Airwallex has partnered with Fastlane to provide an exclusive offer to new clients looking to sign-up for Airwallex. Experience 0% fee and 0% margin on your first HKD 100,000 in FX conversions (or equivalent).
Want to claim this offer?
Click here for more information.
The FX fee and margin waiver will expire 1 week from the approval of your Airwallex account of HKD100,000 equivalent of FX currency conversions. Note, payments made via the SWIFT network will incur a payment fee of USD 15. See promotional terms here.