NEWS
Airwallex moves away from legacy systems to power-up its global payments infrastructure
Airwallex , a leading global payments and financial platform for modern businesses , has announced its partnership with Bird ( formerly MessageBird ), a global communication platform , to power Bird ’ s international payments operations . Powering Bird ’ s global payments infrastructure Bird ’ s platform , applications and APIs help 29,000 + businesses to streamline conversations and build engaging experiences through their customers ’ preferred channels – including WhatsApp , Email , SMS , Voice , WeChat , Messenger and Instagram .
The global nature of Bird ’ s business – with multiple currencies flowing in and out of operating entities around the world – had led to a fragmented financial operating system , split across more than 20 banking partners around the world . This created operating inefficiencies for the Bird Finance team , particularly in relation to the creation and approval of supplier payments and reconciliation with Bird ’ s accounting software . Using Airwallex ’ s global payments and financial infrastructure , Bird has been able to consolidate its financial operations across multiple entities and currencies into a single platform . This has enabled greater visibility and control as well as the automation of supplier payments around the world , leveraging Airwallex ’ s proprietary foreign exchange ( FX ) engine . Bird is also utilising Airwallex ’ s issuing product to pay its global suppliers and the batch transfers tool to run its own payroll across entities . Additionally , Airwallex and Bird collaborated on a superior integration via Netsuite that provides greater speed , consistency and depth of reconciliation for Bird ’ s finance team .
Robert Vis , Founder and CEO at Bird , said : “ Prior to working with Airwallex , we were using legacy systems and technology which slowed down our entire global operations . With Airwallex , we ’ re able to streamline our payments infrastructure and supercharge our finance operations globally . We are continuing to explore more opportunities to leverage the Airwallex product and I look forward to deepening our relationship with the team .”
Tyl by NatWest announces new payments partnership with FSB
NatWest Group has announced a new partnership with the Federation of Small Businesses ( FSB ). In 2020 , NatWest Group established the SME Taskforce with FSB to help SMEs to respond to and navigate the aftermath of the COVID-19 pandemic , working together with stakeholders from across the small business landscape , the two organisations worked closely together to support customers .
Just last year NatWest announced a £ 1million partnership with FSB to provide NatWest business customers with access to independent support and education to help with the cost-of-living crisis via webinars , and one to one phone support and webchat .
FSB members will see cost savings and other benefits by signing up with Tyl , subject to eligibility criteria as part of the partnership . Insight from Tyl by NatWest found that 8 out of 10 businesses could save on fees when switching from an existing card payment provider to Tyl by NatWest .
For the smallest businesses , Tyl offers a simple fee structure based on one low rate for personal card transactions ( where the card is issued in the UK or Europe ) and one for all other transactions . For bigger businesses , Tyl has a range of different fees to fit the needs of the business .
Mike Elliff , CEO , Tyl by NatWest , said :
“ Small businesses are critical for our economy and our communities . At a time where the cost of trading is rising for small business owners , Tyl by NatWest is delighted to be able to partner with FSB to provide its members with a full range of cost-effective and reliable payment solutions , backed by great service .”
10 www . intelligentfin . tech