Airwallex, a prominent global payments and financial platform designed for modern businesses, has announced a strategic partnership with Woo, the renowned open-source ecommerce platform built on WordPress.
The core reason for this partnership lies in empowering Woo merchants to effortlessly accept cross-border payments, thereby succeeding in the dynamic global ecommerce landscape.
By integrating Airwallex’s payment solutions, merchants on the Woo platform can now seamlessly process transactions using global cards, Apple Pay, Google Pay, and over 60 popular local payment methods at checkout. This significant upgrade opens avenues for Woo stores to attract shoppers globally, without the burden of high foreign exchange (FX) conversion fees.
Airwallex, dedicated to simplifying global payments, offers a comprehensive financial platform that caters to the needs of modern businesses. Its solutions are designed to streamline international transactions, making it easier for companies to manage their finances across borders.
On the other hand, Woo, a major player in the ecommerce industry, has carved a niche for itself by providing an open-source platform that powers over 3.5 million ecommerce stores worldwide. The availability of the Airwallex extension on Woo’s official Marketplace marks a significant step in their mission to connect merchants with shoppers across the globe.
Ravi Adusumilli, SVP, Strategic Partnerships & EGM, Americas at Airwallex, emphasized the importance of efficient cross-border payments in global commerce. “Cross-border payment collection is an important part of the puzzle for merchants with global ambitions. But too often, inefficient cross-border payments are slowing down growth into new geographies.
“We’re excited to partner with Woo, the number one (1) ecommerce platform serving millions of merchants globally, to tackle this problem at scale. By removing friction, reducing fees and delays associated with cross-border payments, we enhance the shopping experience and deepen shoppers’ relationships with Woo and its merchants.”
Echoing these sentiments, Web Griebel, Head of Payment Partnerships at Woo, stated, “Woo is committed to providing everything a merchant needs to launch their store in a matter of days and keep it growing for years to come.
“Now with the option to plug in and instantly accept payments from customers anywhere in the world, Woo merchants can accelerate their international expansion plans. Airwallex’s cross-border payments capabilities will further support and accelerate the long-term growth of our existing and future merchants.”
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![Temenos (SIX: TEMN) today announced that National Bank of Iraq (NBI), part of the Capital Bank Group, has successfully gone live with Temenos core banking and payments. NBI, which has 27 branches across Iraq, offers a comprehensive range of services to individuals and businesses in the country. Since 2005, NBI has been majority owned by Capital Bank, one of the top financial institutions operating in the Jordanian and regional markets, with assets of approximately JOD 7.6 billion[1]. With this implementation, NBI moved from its legacy systems onto the same core banking platform as other entities in the Capital Bank Group. This will enable NBI to operate more efficiently and integrate seamlessly with other systems to develop new products faster and deliver an improved customer experience. Capital Bank Group is a long-standing Temenos customer with other entities in the Group including Capital Bank of Jordan, Bank Audi, Société Générale Bank Jordan and NBI Saudi Arabia, already on the Temenos platform. NBI also becomes the first part of the group to adopt Temenos Payments, which enabled the bank to process more than 100,000 transactions of incoming and outgoing domestic and international payments in the first 15 days of operation, with a 99% straight-through processing rate. The migration to the Temenos platform for core banking and payments at NBI was completed in under 12 months thanks to Temenos’ pre-configured banking and payments capabilities and APIs which reduced the need for complex customizations, as well as close collaboration between Temenos, NBI, Capital Bank and delivery partner ITSS. This success was recently recognized in the IBS Intelligence Innovation Awards, with Capital Bank winning ‘Best Implementation of Core Banking Services'. The implementation at NBI follows several other successful transformation projects with Temenos for Capital Bank in the last few years, including the launch of NBI’s branch operations in Saudi Arabia in just 45 days, as well as the integration of Bank Audi and the former Jordanian operations of Société Générale, each of which was achieved in under four months. Collectively, these projects helped Capital Bank to increase operational efficiency by more than 50% within three years, bringing significant cost savings and an improved customer experience. With faster, more accurate processing and immediate service requests, the bank has maintained high customer retention rates and a reputation for service excellence. Izzidin Abusalameh, Chief Operations Officer, Capital Bank Group, commented: “This achievement marks a significant milestone in our digital transformation journey and positions us as a leading player in the banking industry. We have seamlessly transitioned the National Bank of Iraq to a cutting-edge core banking system which will not only enhance operational efficiency but also support providing our customers with a superior digital banking experience. Our continued partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans.” Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said: “Congratulations to National Bank of Iraq and the Capital Bank team on this successful implementation that gives NBI business agility and the same modern technology platform and ability to deploy fast with pre-configured banking capabilities as the rest of the group. With Temenos, Capital Bank Group is future-ready, and we are proud to support them as they continue to innovate and leverage our platform to grow sustainably and enhance the banking experience for customers.”](https://fintech.global/wp-content/uploads/2024/04/rupixen-Q59HmzK38eQ-unsplash-2-218x150.jpg "Flutterwave teams up with Acquired.com to streamline outward remittances in EU and UK")
