Qantas Loyalty Taps Airwallex to Expand Its Financial Services Offerings

February 23, 2022 | Finance Magnates | Portfolio
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Qantas Loyalty, a leading airline loyalty program owned by Qantas Airways Limited, announced today that it has selected Airwallex, a global fintech firm headquartered in Australia, to expand its financial services offerings, ‘Qantas Business Money’.
Powered by Airwallex’s technology, the ‘Qantas Business Money’ platform will enable its merchants including Australian firms to do business with other global firms while allowing them to earn Qantas points.
Qantas Business Money would be available in the second quarter of this year to more than 350,000 small and medium-size businesses (SMEs) who are Qantas Business Rewards members. 
Through Qantas Business Money, businesses would be able to use virtual Visa Business Debit cards to enable payments in local currencies; instantly set up local business accounts in 11 currencies; and access highly competitive foreign exchange rates that are up to 70% less than the big banks.