July release notes: Introducing Yield to all Aussie customers, currency switching on Shopify app, improved FX conversion APIs, and more

Airwallex announced several product updates across business accounts, payments, spend management, and APIs, including the general availability of Airwallex Yield for Australian entities, which offers variable target returns on AUD and USD balances through investments in JPMorgan money market funds without lock-up periods, subject to investment risk and product disclosures. It also introduced Interac e-Transfer collections for Canadian-dollar Global Accounts for businesses with US or Canadian entities, with broader access planned from August 1, 2024. Its updated Shopify payments app now supports currency switching, local payment methods, and streamlined checkout information, while Afterpay is scheduled for phased availability in Australia, New Zealand, the UK, the US, and Canada. Upcoming spend-management features will allow multi-condition approval workflows for expenses, reimbursements, and bills using factors such as merchant categories and accounting data. For API and embedded-finance customers, Airwallex expanded FX capabilities by allowing businesses to choose between locked quotes and live market-rate conversions within one account, as well as add percentage markups to customer FX rates.

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