Latest news with #Airwallex
Sky News
19 hours ago
- Automotive
- Sky News
The £60m shift: How Carwow and Airwallex are redefining trust in online car sales
When the team at London-headquartered Carwow launched their daily online auctions in 2021, they solved one half of the automotive marketplace equation: connecting private car sellers with trusted dealers through a digital platform. But as transaction volumes grew, reaching over £3 billion in sales, a critical experience gap emerged in their otherwise streamlined process. "Payments were happening off-platform," explains Will Morgan, Head of Product at Carwow. "Dealers were manually transferring funds. Sellers were waiting for confirmations. Clearing finance took time and paperwork. It created risk, frustration, and delay." The solution would fundamentally reshape how high-value transactions work in digital marketplaces. By embedding Airwallex's financial infrastructure directly into their platform as a white labelled solution, Carwow has - in just a matter of weeks - moved over £60 million in transactions into a unified digital flow. And in doing so, created a blueprint for how embedded finance can transform traditional industries. The Hidden Engine of Digital Trust For most dealers, payments represent the most vulnerable moment in any online transaction. In automotive sales, where average transaction values run into thousands of pounds, this anxiety intensifies dramatically. Traditional banking processes amplify these concerns: manual transfers introduce delays, off-platform payments create tracking difficulties, and fragmented systems leave both buyers and sellers uncertain about transaction status. "We asked ourselves: What's the best way for us to build trust on both sides of the transaction?" says Will Morgan, Head of Product at Carwow. "What if the entire transaction--from auction to payment--could all happen inside the Carwow platform?" The answer lay not in improving existing payment processes, but in reimagining them entirely. Rather than directing dealers to external banking systems, Carwow would create an integrated financial layer that operated seamlessly within their existing user experience. Engineering Seamless Transactions The technical implementation reveals why embedded finance represents more than incremental improvement. Through Airwallex's infrastructure, Carwow created digital wallets that operate entirely within their platform ecosystem. Dealers can fund purchases, trigger payments, handle negative equity settlements, and clear finance arrangements without ever leaving Carwow's interface. For sellers, the transformation is equally significant. Instead of waiting for manual bank transfers and chasing payment confirmations, they receive immediate transaction updates through Carwow's existing communication channels. The entire process--from successful auction to payment completion--operates as a single, auditable digital flow. "It's not just operationally smoother," Morgan notes. "It's structurally different. We've taken a fragmented process and turned it into a single, secure digital journey--from start to finish." Proving the Business Case The partnership's impact extends beyond user experience improvements. Since implementation earlier this year, over £60 million in transactions that previously occurred through external banking systems are now processed through Carwow's integrated platform, according to data provided by Carwow. The company reports a 52% year-over-year increase in revenue from its auction platform, and a 103% increase in dealer offers placed, suggesting embedded payments unlock broader marketplace engagement. "The early uptake has been substantial," Morgan observes. "We've moved high-value transactions that used to happen off-platform into our secure, instant system--at considerable scale." This volume represents more than operational efficiency gains. By maintaining transaction oversight throughout the entire process, Carwow can provide enhanced transparency, faster dispute resolution, and improved regulatory compliance--benefits that compound as transaction volumes increase. The Embedded Finance Advantage Immy Spence, VP Commercial EMEA at Airwallex, positions the Carwow integration within a broader industry transformation. "We're seeing disruptor platforms increasingly embed financial services to create seamless, trusted, and verticalised experiences that were previously unimaginable with traditional banking methods." The approach addresses fundamental marketplace challenges that extend well beyond automotive sales. Whether in travel booking, e-commerce transactions, or B2B wholesale operations, the principle remains consistent: embedded financial infrastructure can eliminate friction points that traditional banking systems cannot adequately address. For Carwow's 20,000 monthly vehicle listings and network of trusted dealers, embedded payments provide competitive differentiation in an increasingly crowded marketplace. Dealers experience faster stock acquisition cycles, while sellers benefit from immediate payment confirmation--advantages that encourage continued platform usage. Lessons for Digital Marketplaces The Carwow-Airwallex partnership highlights broader principles applicable across digital marketplace operations. High-value transactions, in particular, benefit from embedded financial infrastructure, where trust concerns and payment delays create significant user friction. Traditional payment processes--characterised by platform exits, manual procedures, and fragmented user experiences--represent structural obstacles to marketplace growth rather than mere operational inefficiencies. Embedded finance solutions address these challenges at the architectural level, creating integrated experiences that feel native to the platform rather than bolted-on additions. "This isn't just a feature--it's a new foundation," Morgan explains. "We've redefined our car-changing experience. It's simpler, safer, and built for a modern, digital automotive marketplace." The Infrastructure Behind Innovation The technical capability that enables such integration represents a significant shift in financial services architecture. Airwallex's embedded finance solutions allow platforms to offer banking-grade security and regulatory compliance while maintaining complete control over user experience design and transaction flows. This infrastructure approach enables platforms like Carwow to compete more effectively against traditional automotive sales channels by offering superior transaction experiences. Rather than directing users to external systems that dilute brand engagement, embedded solutions keep transactions within the platform ecosystem while meeting all regulatory requirements. Scaling Digital Trust As Carwow approaches £100 million in embedded transaction volume, according to company data, their experience suggests embedded finance may become standard infrastructure for high-value digital marketplaces. The combination of enhanced user experience, improved operational efficiency, and stronger regulatory oversight creates compelling business advantages that traditional payment processing cannot match. For marketplace operators across industries, the Carwow case study demonstrates how embedded financial infrastructure can transform operational challenges into competitive advantages. By eliminating friction points that users previously accepted as inevitable, platforms can create differentiated experiences that drive increased engagement and transaction volumes. The automotive sector's digital transformation continues accelerating, but Carwow's embedded finance implementation suggests the most significant innovations may occur not in vehicle technology, but in the financial infrastructure that makes digital car sales possible at scale.
Barnama
2 days ago
- Business
- Barnama
Airwallex Recognised as a Company of Good for Commitment to Corporate Purpose and Social Impact in Singapore
SINGAPORE, July 21 (Bernama) -- Airwallex, a leading global financial platform for modern businesses, has been recognised as a Company of Good (COG) by the National Volunteer & Philanthropy Centre (NVPC) for its meaningful and growing contributions to corporate purpose and community impact in Singapore. This national recognition affirms Airwallex's ongoing commitment to building a more inclusive and sustainable future through purposeful business practices, in line with the Forward Singapore movement and COG's five pillars: People, Society, Governance, Environment, and Economic.
Business Wire
2 days ago
- Business
- Business Wire
Airwallex Recognised as a Company of Good for Commitment to Corporate Purpose and Social Impact in Singapore
SINGAPORE--(BUSINESS WIRE)--Airwallex, a leading global financial platform for modern businesses, has been recognised as a Company of Good (COG) by the National Volunteer & Philanthropy Centre (NVPC) for its meaningful and growing contributions to corporate purpose and community impact in Singapore. This national recognition affirms Airwallex's ongoing commitment to building a more inclusive and sustainable future through purposeful business practices, in line with the Forward Singapore movement and COG's five pillars: People, Society, Governance, Environment, and Economic. 'At Airwallex, purpose is central to our mission,' said Lucy Liu, Co-founder and President, Airwallex. 'We're proud to be recognised as a Company of Good and to do our part in strengthening the communities in which we live and work. We believe innovation and impact go hand in hand – and we'll continue finding new ways to use our time, product, and expertise to drive economic empowerment, inclusion, and opportunity.' Airwallex Impact: Turning purpose into action Airwallex's recognition is a strong endorsement of Airwallex Impact, its global social impact programme launched in late 2024, grounded in the company's pledge to the Pledge 1% movement – a global initiative that encourages companies to commit 1% of equity, product, profit, and employee time for the greater good. Since committing to Pledge 1%, over 120 Airwallex employees globally have contributed volunteer days across a diverse range of activities in the first half of 2025 – a 58% uplift compared to the whole of 2024. Through Airwallex Impact, the company will continue to deliver volunteering initiatives, forge social impact partnerships, and establish donation frameworks across its global offices, including its Singapore headquarters. Creating lasting impact on the ground in Singapore In Singapore, Airwallex employees have already begun making a tangible difference through a range of volunteering initiatives in 2025 that support youth empowerment, marine conservation, and environmental innovation. Highlights include: Inspiring the next generation of tech leaders: In partnership with United Women Singapore's Girls2Pioneers initiative, Airwallex hosted 16 aspiring young women for a hands-on FinTech & Career Readiness Workshop. The experience included crash courses in Engineering, Product, Commercial, Brand and People Operations – giving participants a real-world window into STEM careers. Marine conservation in action: Employees took part in a reef survey with Marine Stewards, contributing data to preserve Singapore's marine biodiversity and protect its coastal ecosystems. Ocean clean-up initiative: Airwallex employees joined Ocean Purpose Project – a Pasir Ris-based social enterprise – for a half-day kayak clean-up and learning journey. Participants collected trash from the sea, explored a native seaweed farm, and learned how plastic waste is being converted into low-sulphur fuel and bio-stimulants to restore our oceans. Looking ahead: 'Invest In Our Home' with Endowus Airwallex is also proud to be the Gold Partner for the upcoming Endowus Giving Machines (EGB) Campaign, running from August 2025 to January 2026. These islandwide 'virtual giving machines' – which can be found at high traffic areas such as MRT stations, bus stops, malls and cinemas – enable individuals to make charitable donations to a wide range of causes. Since its launch, the initiative has raised nearly S$300,000 in donations for over 40 local charities. This year, EGB is held in conjunction with SG60, aligning with the theme of 'Building Our Singapore Together' where contributions may be eligible for the SG Gives matching grant. 'We're excited to partner with Airwallex on the Endowus Giving Machines campaign to make giving more accessible, visible and impactful across Singapore," said Gregory Van, Co-founder and CEO, Endowus. "Airwallex's commitment to social impact aligns with our shared belief that finance can be a force for good – not just in building wealth, but in enabling broader social impact. Together, we're empowering more people to support meaningful causes that they care about in simple, everyday ways." As Airwallex continues to grow in Singapore and across the region, its focus remains clear: to create long-term value for businesses, communities and the broader economy by pairing world-class financial infrastructure with strong corporate purpose. About Airwallex Airwallex is a leading financial platform building the future of global banking for modern businesses. By combining proprietary infrastructure with software and AI, Airwallex is reimagining how businesses manage accounts, access capital, control spend, and embed financial services. Designed to replace fragmented, legacy systems, Airwallex offers a unified platform for global financial operations – providing everything from multi-currency business accounts to payments to spend management and embedded financial products. Founded in Melbourne and trusted by over 150,000 businesses worldwide – including TikTok, Rippling, Navan, Qantas, and SHEIN – Airwallex is powering a new era of global banking without borders.
AU Financial Review
5 days ago
- Business
- AU Financial Review
Airwallex inks sponsorship deal with English Premier League giant
One of Australia's biggest private companies, payments group Airwallex, has signed a major sports sponsorship with English football giant Arsenal weeks after raising $US300 million ($461 million) as it pushes for more clients into Europe and the US. Arsenal will use Airwallex as its payments platform and the tech company's branding will appear for at least the next two years around its home ground, north London's Emirates Stadium, under the terms of the deal.
Yahoo
09-07-2025
- Business
- Yahoo
Dext, Airwallex to launch payments solution for small businesses
Dext, a bookkeeping automation provider within the IRIS Software Group, has formed a strategic alliance with Airwallex to introduce a new payment solution for small businesses. This partnership will launch Dext Payments later this year, a feature integrated into Dext's platform to streamline the accounts payable process. It will automate the entire workflow, from uploading invoices to processing payments, said Dext in its press statement. The collaboration combines the expertise of both companies to simplify financial tasks for small and medium-sized businesses (SMBs) and their accounting partners. By incorporating Airwallex's payment system into Dext's automation tools, Dext Payments will offer a unified way to handle supplier payments, expenses, payroll, and invoice-based collections. The solution also enhances security by verifying suppliers and payment details using data held by Dext, ensuring accurate payments. Dext CEO Sabby Gill said: 'Airwallex stood out as the ideal partner to power Dext Payments. Its global presence allows us to support customers in every region we operate in, and Airwallex's secure, developer-friendly platform integrates seamlessly with the Dext platform.' Dext Payments will allow for the quick review, approval, and processing of payments, with direct access to client wallet balances within the Dext platform. Small businesses using Dext Payments can directly pay suppliers and employees, include payment links on invoices for quicker collection, and manage multi-currency wallets. The service will also enable businesses to receive payments with local bank details in 12 countries and in more than 20 currencies. Dext Payments is scheduled to begin alpha testing in August. The full global launch is slated for Autumn 2025, starting with the UK market and followed by phased introductions in Europe, North America, and the Asia-Pacific region. Airwallex CRO Kai Wu stated: 'Dext's strong customer base, deep domain expertise, and focus on automation make them the perfect partner to take our financial infrastructure to market in a way that drives real customer impact.' In May, Airwallex raised $300m in Series F funding round at a valuation of $6.2bn. The fundraise includes $150m in secondary share transfers and takes the company's total funding to more than $1.2bn. This capital will be used to extend Airwallex's global reach and refine its software solutions for businesses. "Dext, Airwallex to launch payments solution for small businesses " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
