Cross-border Payments

i2c, Airwallex Link For Cross-Border B2B Payments Card

i2c will team with Airwallex for a new B2B card.

i2c has announced that it will work with global FinTech company Airwallex to enable the Airwallex Borderless Card for B2B payments, according to a press release.

The multi-currency card will allow corporations to streamline how they make payments to and from clients, suppliers, partners and subsidiaries around the globe.

The card will first launch in Australia, and then in the U.K. and Hong Kong later this year.

The Airwallex Borderless Card will permit businesses to move money quickly and convert payments into 10 currencies, with real-time access to each country’s competitive exchange rate, using artificial intelligence (AI) technology.

i2c called the card “the most efficient method of cross-border and multi-currency payments,” touting its ability to save time and cut out unnecessary fees.

i2c will provide Airwallex with its platform, tools and APIs to let Airwallex configure and tweak the program as it rolls out across the world. The companies will be able to monitor activity and look at anomalies in usage patterns and behaviors as well as set up multiple identity verification and validation safeguards with multiple checkpoints.

i2c Global Head of Product Ava Kelly said the company is proud to work with Airwallex and hopes to address the needs of businesses in areas like safe, efficient cross-border payments.

Last month, i2c, announced a partnership with SmartHealth PayCard, which works as a healthcare-specific credit card to help customers manage deductibles, co-pays and emergencies. The idea is also to give healthcare providers faster payments.

“We want consumers to have a seamless, frictionless and more comfortable way to manage their expenses,” said Paul Clampitt, an insurance expert and co-founder of SmartHealth PayCard.

In December, i2c announced a digital banking program to assist colorblind customers. The program works with a simple interface to help with the navigation of banking and payments. According to Right Diagnosis, about one in every 76 people suffers from colorblindness.

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PYMNTS STUDY: THE CROSS-BORDER MERCHANT FRICTION INDEX – JUNE 2020

The PYMNTS Cross-Border Merchant Friction Index analyzes the key friction points experienced by consumers browsing, shopping and paying for purchases on international eCommerce sites. PYMNTS examined the checkout processes of 266 B2B and B2C eCommerce sites across 12 industries and operating from locations across Europe and the United States to provide a comprehensive overview of their checkout offerings.

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