Airwallex launches borderless Visa card for Canadian businesses

Thursday 11 April 2024 12:59 CET | News

Airwallex has launched the Airwallex Borderless Visa Card in Canada, providing Canadian businesses with a virtual card issued by Peoples Trust Company.


The card allows businesses to make payments globally wherever Visa is accepted. Representatives emphasized the necessity for modern businesses to operate across borders, highlighting the card's flexibility and control in facilitating international transactions.

Representatives of Visa Canada underscored Visa's commitment to digital-first tools that aid businesses in scaling internationally, expressing pride in collaborating with Airwallex to offer seamless payment options to Canadian businesses.

The Borderless Visa card addresses the challenge of high foreign exchange costs associated with using Canadian dollars for international transactions. Leveraging Visa's virtual card capabilities, Airwallex customers in Canada can generate and issue virtual cards instantly, paying global expenses directly from their Airwallex multi-currency wallet, thereby eliminating unnecessary FX conversion fees.

Airwallex has launched the Airwallex Borderless Visa Card in Canada, providing Canadian businesses with a virtual card issued by Peoples Trust Company.


If the account lacks sufficient balance in the specified currency, Airwallex will automatically convert funds held in other currencies at competitive rates. The card offers single- and multi-use capabilities, enhancing security, control, and visibility of company spending.

Integration with Airwallex's Expense Management offering allows teams to manage receipts, expense reports, and approval flows, providing businesses with a consolidated view of expenses across currencies and accounts. Plans include expanding card functionality to include Apple Pay and Google Pay, as well as offering physical multi-currency payment cards.

Since its entry into the Canadian market in April 2023, Airwallex has expanded its presence in Canada and across the Americas, including entry into Mexico with the planned acquisition of MexPago. Established in 2015 in Melbourne, Australia, Airwallex operates globally, employing over 1,400 people across 20 locations, with plans to hire an additional 300 people in 2024.

The Airwallex Borderless Card is issued by Peoples Trust Company under license by Visa International Service Association. As of now, Airwallex's products and services are not available in Quebec.

About Airwallex: Airwallex is a global financial platform for modern businesses, offering solutions for payments, treasury, spend management, and embedded finance. With proprietary infrastructure, Airwallex simplifies global payments and financial operations, enabling businesses to expand internationally. Founded in Melbourne, Airwallex supports over 100,000 businesses worldwide, serving brands like Brex, Rippling, Navan, Qantas, and SHEIN.

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Keywords: cross-border payments, credit card, debit card, fintech, virtual card
Categories: Payments & Commerce
Countries: Canada
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