Going global? One borderless card to rule them all

Running a business that crosses borders can feel like you’re pulled from pillar to post. You’re either paying a supplier in euros, covering ad spend in dollars or assigning cards to employees overseas. Traditional corporate cards just can’t keep up.

It’s time to upgrade to one borderless card to rule them all.

Breaking borders: Outgrowing legacy bank cards

With any business, you want to protect your margins and remove any friction from the process. This is why your choice of corporate card is key, particularly if you’re operating on a global level.

Digital, next-gen solutions have shown us that traditional banking options can no longer keep up. Foreign exchange fees, poor exchange rates, limited currencies and a lack of transparency result in delays and eat into your margins. Whereas a borderless card solution removes restrictions and costly barriers to enable true multi-currency payments.

Borderless cards, unpacked

So, what can a borderless card actually do?

It’s a multi-currency card that can be used in different countries. Let’s take a look at Airwallex’s Corporate Card as an example. It can empower your global business by:

• Letting your business operate globally with fast and easy multi-currency payments.
• Give your team flexibility through seamless virtual and physical card options.
• Allow you to stay in control with real-time expense visibility and instant reconciliation.
• Let your team spend and pay directly in local currencies without costly conversion fees, or the need to use their own money.
• Provide full visibility via a centralised dashboard which tracks spending and budgets in multiple currencies.

A borderless card can bring real, tangible benefits for businesses that want to scale globally. From cost savings to seamless global spending, it can provide the support needed to succeed in the current modern business landscape.

“A borderless card can bring real, tangible benefits for businesses that want to scale globally.”

Why borderless cards can be a secret weapon

Cost savings. Off the bat, some of the key benefits of using Airwallex’s Corporate Card are no foreign transaction fees and market-beating exchange rates. Airwallex even allows you to spend directly in 16 currencies, eliminating unnecessary FX fees. You’ll also see more savings as your volume and transaction numbers grow.

Control. Airwallex lets you set precise spend controls and manage spend in local currencies. You can better manage your budgets with a variety of spend limits and a real-time view of employee spend.

Flexibility. You have full flexibility with virtual or physical cards. Virtual cards can be created and assigned instantly, so your employees can start using them online immediately. And they can be assigned to team members around the world, streamlining local and global purchases.

Speed. Your payments to suppliers, partners or contractors can get paid without delays caused by a legacy banking system. You can also automate and manage recurring payments for global subscriptions, suppliers and software tools, making sure nothing gets missed.

Legacy cards vs borderless cards

In a head-to-head between legacy banks and borderless cards, you can clearly see who wins out in today’s global digital economy.

The future of business finance is borderless

Today, even the smallest companies think global from day one. Borders no longer define opportunities, but they can still define how much traditional banks charge you in fees.

Legacy cards weren’t designed for the challenges facing businesses today. They’re slow to issue, with hidden FX markups and one-size-fits-all systems.

Whereas solutions like Airwallex allow you to pay and get paid in multiple currencies. Cutting out FX fees and reducing conversion charges are real benefits to a business’s bottom line, while full visibility and flexibility let you stay in control, even if you’re operating across several markets.