"Airwallex and Float Partner to Streamline Canadian Business Bill Payments"

26 Jul, 2024

"Airwallex and Float Partner to Streamline Canadian Business Bill Payments"

Airwallex, a leading global payments and financial platform, has partnered with Float, a fast-growing Canadian B2B fintech, to enable fast and cost-effective bill payments for both domestic and international transactions. Float’s Bill Pay product, powered by Airwallex, introduces payouts such as bank transfers, EFT, wire, and ACH as part of Float’s unified business finance platform for Canadian companies. This first-of-its-kind offering in Canada helps nearly 100,000 small and medium-sized businesses eliminate manual accounts payable processes, increasing visibility and control over invoices with automated collection, payment, and reconciliation while minimizing foreign exchange fees.

Ravi Adusumilli, Executive General Manager, Americas at Airwallex, emphasized the benefits of integrated financial services for Canadian consumers, SMBs, and enterprises. He expressed pride in partnering with Float to empower businesses to operate efficiently both within and outside Canada. Rob Khazzam, CEO and Co-Founder of Float, highlighted that their mission to modernize business finance in Canada has been accelerated by leveraging Airwallex’s global financial infrastructure, delivering a seamless and affordable bill payment experience that enables customers to scale and grow.

With SMB demand for integrated financial tools surging, a recent Airwallex survey revealed that over 80 percent of SMBs worldwide desire comprehensive software offerings and would switch from traditional banks for payment needs. Platforms like Float have a competitive advantage over banks by offering one-stop solutions through a single vendor, catering to the diverse needs of SMB customers.