Airwallex & Float bring cost-effective bill payments to Canadian businesses

By Gloria Mathias

Airwallex, a global payments and financial platform for modern businesses, has announced a partnership with Float, Canada’s B2B FinTech, to enable fast and cost-effective bill payments for both domestic and overseas transactions.

Float’s new Airwallex-powered Bill Pay product expands its end-to-end payment solution for Canadian businesses. It introduces payouts, including bank transfers, EFT, wire, and ACH, as part of Float’s unified business finance platform.

Nearly 100,000 small and medium-sized Canadian businesses regularly conduct business outside the country and rely on efficient local and international payment processes to do so. The Bill Pay offering in Canada helps Float customers eliminate manual AP processes by increasing visibility and control over their company’s invoices with automated invoice collection, payment, and reconciliation, all while minimizing costly foreign exchange fees.

Embedding Airwallex’s global financial infrastructure helped Float bring the product to market faster and with an efficient integration effort.

“Canadian consumers, SMBs, enterprises, and the economy at large stand to benefit from more integrated financial services,” said Ravi Adusumilli, Executive General Manager, Americas, Airwallex. “We’re proud to partner with a cutting-edge partner in Float to empower businesses to operate more easily and efficiently both inside and outside of Canada.”

“In 2021, we embarked on a mission to modernize business finance in Canada,” said Rob Khazzam, CEO and Co-Founder of Float. “Our partnership with Airwallex has helped us bring that vision to life more quickly and efficiently. By leveraging Airwallex’s global financial infrastructure, we can deliver a seamless and affordable bill payment experience to our customers, enabling them to scale, unlock their potential, and grow our economy.”