Airwallex Pay is a payment method powered by Airwallex that allows payers to use their wallet balances to directly pay for B2B orders. Airwallex Pay is available via our Online Payments, Payment Links, and Xero Invoice Payments product set.
The set up of this payment method is currently only available to merchants in certain regions. For further details, kindly refer to our product document available here - Airwallex Pay
The article covers the following topics:
- Why should I use Airwallex Pay vs. traditional bank transfer or cards?
- Airwallex Pay experience for Merchant
- Airwallex Pay experience for Payer
Why should I use Airwallex Pay vs. traditional bank transfer or cards?
By utilising Airwallex Pay and bypassing third-party payment rails, both merchants and payers can experience the following benefits:
- Lower fees compared to standard card payments.
- Reduced payment errors as payers are not required to manually input bank or card details during the payment process.
- Enhanced customer experience as payments can be completed without the need to switch to a banking app.
- No conversion fees imposed when paying in currencies that are held in an Airwallex wallet balance.
- Higher success rate in cross-border transactions compared to card payments.
- Quicker settlement time of T+1 instead of T+3 due to the utilisation of Airwallex-owned rails.
Airwallex Pay experience for Merchant
How do I set-up Airwallex Pay?
If you are a merchant with either HK/SG/AU/US entity, you can find this payment method within the WebApp under ‘Payments’ > ‘Payment methods' > ‘Other available payment methods’.
Who can pay with Airwallex Pay?
All customers with HK, CN, SG, AU, and NZ entities who have a sufficient balance in their Airwallex account can make payments via Airwallex Pay, regardless of their business registration region.
What will my customers see when paying via Airwallex Pay
Similar to paying with other e-wallet balances, your customer will need to log in to their Airwallex account before making a payment for the order that you create.
What are the supported order currencies?
The supported currencies with Airwallex Pay are:
Processing currencies: AUD, CNY, USD, HKD, EUR, GBP, CAD, SGD, CHF, NZD, JPY, THB, SEK, NOK, DKK, HUF, CZK, PLN, RON, KRW, MXN, ILS, ZAR
Settlement currencies: AUD, CNY, USD, HKD, EUR, GBP, CAD, SGD, CHF, NZD, JPY, THB, SEK, NOK, DKK, HUF, CZK, PLN, RON, KRW, MXN, ILS, ZAR
Airwallex Pay experience for Payer
How do I pay via Airwallex Pay?
In order to make a payment through Airwallex Pay, you will need to log in to your Airwallex account. If you have access to multiple Airwallex accounts, you will have the option to select the account balance from which the payment will be deducted.
Why can’t I see my Airwallex account?
You need to have the “purchase” permission of a verified Airwallex account. The “purchase” permission is automatically assigned to the owner and admins of all Airwallex accounts. To obtain this permission, please reach out to your Airwallex account admin.
Why did my payment fail?
Payments are processed in real-time upon receiving your confirmation. Payment failures usually occur as a result of insufficient funds or due to risk-related factors.
What currency will I receive refunds in?
You will always receive the settlement funds in the currency that you specify for your orders
How do I submit a dispute?
Airwallex is not responsible for, nor makes any representations or warranties in respect of, the quality, safety, legality, or any other aspect of any goods or services that you purchase using Airwallex Pay Service. We are not liable for any loss arising from any merchant refusing to accept your Payment. Any complaints, claims or disputes about any goods or services purchased using Airwallex Pay Service must be resolved directly with the merchant concerned in the transaction.
You may request to reverse Airwallex Pay Transactions in very limited cases such as fraud or manifest error. In such circumstances, you must make the request in writing to us and we shall determine in our sole discretion whether to accept or reject the request. You may not request to reverse an Airwallex Pay Transaction on the basis of a dispute with the merchant about the related goods and services.
You must raise a reversal request to us within 120 days of the original Airwallex Pay Transaction and provide us with any information we ask for to support your request.
If we are satisfied after considering your request that you are entitled to partially or fully reverse the Airwallex Pay Transaction and are able to receive funds returned from the relevant merchants, the reversed amount will be credited to your Airwallex account in the original currency of the Airwallex Pay Transaction.