Strategic FinTechs Collaborate To Transform FX Accounts Payable for Singapore SMEs

Business Expense Management And International FX Payments In A Single, Integrated Platform

Singapore, 28 Aug, 2020

Two of the fastest-growing FinTech firms in SE Asia – Volopay and Wallex – have joined forces to offer a world-class integrated solution for Singapore SMEs. With this single platform, SMEs in Singapore can conveniently combine business expense management with international FX payments at lower cost, and with complete security and operational transparency.

“This strategic partnership will generate tangible benefits for Singaporean SMEs involved in cross-border trade”, said Jody Ong, Co-founder and CEO of Wallex. “Not only will it give them greater visibility into and control over every aspect of their business spending, it will also enable them to leverage the best FX rates for their cross-border payments and transfers.”

Rajith Shaji and Rajesh Raikwar, Co-founders of Volopay further added in a joint statement, “Volopay customers are already able to manage their business expenses more efficiently. Now they can easily take care of both online expense management and international FX payments with this integrated platform. Through this partnership, our goal is to help Singaporean SMEs streamline their financial workflows and grab more international business opportunities. These are critical, game-changing benefits in the current sub-optimal economic climate.”

Dozens of firms in Singapore already rely on Volopay to digitise their business expense workflows. By making Wallex their FX partner of choice, Volopay expands its offerings to include cross-border remittances and payments at lower cost compared to traditional channels. This partnership follows from both firms’ enthusiasm to leverage powerful synergies and provide a seamless offering for both international payments and business expense management.