Leading global fintech Airwallex has strengthened its long-term partnership with Xero with the launch of a new payment link integration for Xero invoices, increasing ease and speed of receiving invoice payments for Australian businesses. The solution also includes Airwallex’s multi-currency capabilities, allowing customers to issue and settle invoices in multiple currencies.
Airwallex’s Australia-based customers that use Xero as their invoicing solution can now automatically embed an Airwallex payment link in their Xero invoice. The payment link enables them to collect funds from invoice recipients directly into their Airwallex account via cards and other local payment methods in over 170 currencies, and have their funds settled in eight currencies using a wide range of payment types.
Once paid, funds will automatically reconcile to the invoice in Xero and a payment receipt email will be sent to the payer.
Airwallex’s partnership with Xero started in 2020 when a bank feed integration was introduced between the two platforms. The new invoice integration is a pivotal addition as it synchronises the payment trail for Xero customers, from collections to bank feed reconciliation.
“We are pleased to be extending our partnership with Xero to simplify accounting and bookkeeping for our customers. Invoice recipients can now pay in one click, increasing the speed and likelihood of getting paid for our customers, which in turn will improve their business cash flow. We’ve also brought our unique cross border payment capabilities to this solution to help our customers collect and hold in the currencies that are important to them, avoiding unnecessary conversion fees,” said Sam Kothari, Airwallex’s Head of Growth for ANZ.
Airwallex launched its online payment acceptance capabilities last year, offering a suite of different integration methods, including payment links. These one-off or reusable links are instantly generated and issued for fast and seamless invoice payments, without the need for businesses to host payment services within their own website.