Viably and Airwallex Team Up to Revolutionize Cross-Border Payments for eCommerce
A New Partnership Streamlines International Transactions for Online Businesses
October 30, 2024 – In a move designed to simplify the complexities of international commerce, Viably and Airwallex have announced a groundbreaking partnership. This collaboration introduces the Viably Global Account, a comprehensive solution empowering eCommerce businesses to navigate the intricacies of cross-border payments with unprecedented ease. This innovative financial platform aims to transform how online sellers manage their global financial operations, allowing them to focus on growth and expansion rather than administrative hurdles.
The Viably Global Account: A Single Hub for Global Finances
The core of this partnership is the Viably Global Account, powered by Airwallex's robust global payment infrastructure. This integrated solution offers eCommerce businesses a single platform to manage all aspects of their international finances. This means no more juggling multiple accounts, currencies, and payment processors. Instead, sellers can consolidate their financial activities within a single, user-friendly interface.
The capabilities offered by the Viably Global Account are extensive and designed to address the key challenges faced by eCommerce businesses operating across borders. These include:
Simplified Cross-Border Payments: The platform streamlines the process of paying vendors and suppliers located anywhere in the world. This eliminates the complexities of navigating varying banking systems, exchange rates, and international transaction fees.
Efficient Payout Collection: Online marketplaces often operate across multiple countries. The Viably Global Account simplifies the process of receiving payouts from these platforms, aggregating funds from various sources into a single account.
Multicurrency Management: Businesses operating internationally frequently handle multiple currencies. The Viably Global Account simplifies managing these currencies, eliminating the need for manual conversions and tracking.
Comprehensive Financial Management: Beyond payments, the platform offers robust financial management tools. This includes features such as cash flow management, automated accounting functions, and insightful profit analytics. These features provide businesses with the data they need to make informed decisions and optimize their financial performance.
Scaling with Global Growth
A key advantage of the Viably Global Account is its scalability. As an eCommerce business expands its global reach, the platform can adapt and grow alongside it, handling increased transaction volumes and financial complexities without compromising efficiency or performance. This adaptability is critical for businesses aiming for rapid international expansion.
Statements from Key Players
Doron Gordon, founder and CEO of Viably, expressed enthusiasm about the partnership, stating, "Airwallex's technology, combined with Viably's eCommerce solutions, empowers eCommerce sellers to access international markets with confidence. Their financial needs are managed seamlessly, freeing them to concentrate on product development, customer acquisition, and business expansion."
Or Liban, head of Israel and the Middle East at Airwallex, echoed this sentiment, emphasizing the strategic importance of the partnership. Liban stated, "We're thrilled to power Viably's Global Accounts and further support the thriving eCommerce ecosystem. Our cross-border payments and financial infrastructure provide Viably with a one-stop shop for all their financial operations."
The Growing Need for Seamless Cross-Border Payments
The surge in global eCommerce has created an unprecedented demand for efficient and reliable cross-border payment solutions. Recent industry reports highlight the increasing importance of seamless international transactions for businesses seeking global expansion. These reports show a direct correlation between ease of cross-border payments and the success of eCommerce businesses operating in the international market. The frictionless nature of global trade is directly influenced by this efficient handling of international transactions.
Airwallex's Impressive Growth Trajectory
Airwallex's impressive year-over-year growth underscores the demand for their services. In August, the company announced a 73% increase in yearly processing volume, exceeding $100 billion. This significant growth reflects the rising need for reliable and scalable cross-border payment solutions. The expansion encompasses all aspects of their operations, including payments, foreign exchange (FX), payouts, and issuing. Airwallex Co-founder and CEO Jack Zhang highlighted the significant market opportunity presented by serving the payment and financial operations of global businesses.
A Partnership Focused on Innovation
The partnership between Viably and Airwallex represents a significant step forward in simplifying cross-border transactions for eCommerce businesses. By combining Viably's eCommerce expertise with Airwallex's advanced payment infrastructure, the Viably Global Account provides a comprehensive solution that addresses the unique financial challenges faced by businesses operating in the global marketplace. This collaboration is poised to significantly impact the eCommerce landscape, empowering businesses to reach new markets and accelerate their growth. The focus on streamlined processes allows businesses to allocate more resources to their core competencies—product development, marketing, and customer service—rather than being bogged down in complex financial management.
The Future of eCommerce Finance
The launch of the Viably Global Account marks a turning point in the evolution of eCommerce finance. The partnership demonstrates a commitment to innovation and a clear understanding of the needs of businesses operating in an increasingly interconnected global economy. The ease and efficiency of cross-border payments provided by the Viably Global Account represent a significant improvement, benefiting both established international businesses and those just beginning to explore global markets. The platform’s scalability ensures that businesses can adapt to increasing transaction volumes and financial complexities as they grow.
The success of this venture hinges on effectively addressing the key challenges of cross-border payments, including currency exchange rates, regulatory compliance, and security. By leveraging Airwallex’s established infrastructure and expertise in these areas, Viably is well-positioned to offer a robust and reliable solution. The integration of financial management tools within the platform further enhances its value proposition, providing eCommerce businesses with a comprehensive solution to manage their entire financial ecosystem.
The partnership between Viably and Airwallex reflects a broader trend within the eCommerce industry—a movement toward more integrated and streamlined financial solutions. This collaboration positions them as leaders in this evolving landscape, setting a new standard for cross-border payment solutions and contributing to the future of global eCommerce finance. The impact on the efficiency and profitability of eCommerce businesses operating internationally is expected to be significant, fostering growth and contributing to a more dynamic and interconnected global marketplace. The potential for expansion and increased market penetration for eCommerce sellers is greatly enhanced by this innovative partnership.
