Airwallex and Xero Integration – A Perfect Match to Help Entrepreneurs and SMEs

Airwallex and Xero Integration – A Perfect Match to Help Entrepreneurs and SMEs

When deciding to set-up a business in Hong Kong, there are three major questions usually raised by prospective business owners:

  • Will I be able to open a business bank account in Hong Kong?
  • Do I need to be in Hong Kong to open a business bank account?
  • Which cloud accounting software should I explore?

With the increasing difficulties associated with travelling due to the pandemic, most entrepreneurs are concerned about their chances of securing a bank account, after they have successfully set-up a business in Hong Kong.


Working with trusted digital banking providers like Airwallex bridges this gap for small businesses.

Airwallex as a financial service platform is creating a world where businesses can operate without borders and restrictions. You can send and receive money around the globe, while spending less money on bank fees, and enjoying very competitive foreign exchange rates.


Cloud accounting softwares on the other hand have become very popular among entrepreneurs and SMEs. This is due to its flexible nature.

Being able to have access to real-time financial information has improved a lot of businesses worldwide. This is the main selling point for cloud accounting software.

Xero, being one of the best players in the industry, provides business owners with tools that make running their businesses easier. Xero offers simple and efficient ways of managing tedious business processes such as invoice management, payment collection, inventory and payroll management.


Xero and Airwallex are well-recognized as leaders in Digital Transformation given their respective platform’s ability to help entrepreneurs and SMEs run and grow their business with greater flexibility, efficiency, and ease of use. However, as businesses of all sizes and industries continue to further embrace digital transformation, there is an increasing desire for all business tools to be able to integrate seamlessly with each other. In this article, we will outline what Xero and Airwallex are, and how their integration features are a perfect match to help entrepreneurs and SMEs build better businesses. 

1. What is Xero?

Xero is online accounting software, developed with entrepreneurs and SMEs in mind. It offers quality features and strong usability as a cloud-based solution. Xero allows companies to manage and share access to their financial documents with their team, accountants, and bookkeepers – facilitating collaboration, transparency, and efficiency. Being a cloud accounting software, Xero lets its users process big accounting data anytime, anywhere, and on any device. 

2. What is Airwallex?

Airwallex is a global fintech payment platform with a mission to empower businesses of all sizes to grow by eliminating the international borders that come with managing a global company. Airwallex has built a global financial platform to help businesses to manage payments without the constraints of the traditional financial system. Airwallex has secured over USD $500 million since it was established in Melbourne in 2015 and is backed by world-leading investors such as Tencent, Sequoia Capital, and Mastercard. Today, the business operates with a team of over 900 employees across 12 global offices.

3. How does Xero and Airwallex Work Together? 

Given how essential it is to manage one’s accounting matters and finances, Airwallex and Xero have understood that their growth is fueled by their ability to integrate with other platforms to enable entrepreneurs and SMEs to grow in an increasingly borderless world.  


Airwallex’s integration with Xero enables businesses of all sizes and industries to connect their multi-currency financial transactions to Xero through Xero’s bank feed connection features. This allows Airwallex users to enjoy hourly updates to their transactions and simplifies and speeds up the reconciliation process to free users of manual accounting tasks.

4. How can Airwallex Help?

One of the challenges faced by new businesses in Hong Kong is the need to deal with multiple currencies, while incurring substantial foreign exchange charges and unfavorable rates.  


Airwallex has launched their payment gateway in Hong Kong where clients are able to accept Visa, Mastercard, WeChat, and Alipay. The key proposition is a like-for-like settlement which means there are no forced foreign exchange conversions if you sell in USD and want to receive HKD – as well as the seamlessness of using the rest of our product suite from end-to-end.   


Compared with traditional banks, Airwallex offers a more competitive foreign exchange rate and faster payment delivery with 0.2-0.6% above the interbank rate. It allows businesses to have global operations at a very lower cost securely. Airwallex has a fully online sign-up, with no setup or monthly fees so it’s easy to try it out. 

  • Collect and hold in 11+ currencies from your customers with US, UK, EU, and HK global accounts 
  • Pay overseas suppliers and staff directly from this balance and eliminate unnecessary conversion fees
  • Get a full view of your global cash flow with their multi-currency Xero integration


Airwallex has partnered with Fastlane to provide an exclusive offer to new clients looking to sign-up for Airwallex. Experience 0% fee and 0% margin on your first HKD 100,000 in FX conversions (or equivalent). 


Want to claim this offer? 

Click here for more information.



The FX fee and margin waiver will expire 1 week from the approval of your Airwallex account of HKD100,000 equivalent of FX currency conversions. Note, payments made via the SWIFT network will incur a payment fee of USD 15. See promotional terms here.

5. How can FastLane Help? 

FastLane Group is a licensed corporate service provider in Hong Kong. We help clients in establishing business presence in Hong Kong and other jurisdictions.

We utilize leading technology to facilitate the company incorporation process. Our professional team offers support and advice throughout the company formation process.

FastLane Group is also a Certified Xero advisor and a Platinum Xero Partner. We can make your transition to cloud accounting seamless. We offer a range of services to enable you to get the most out of Xero.

Want to know more about company formation in Hong Kong and Xero Cloud accounting software?

Get in touch with a trusted FastLane advisor to get a 30 minutes free consultation.
Book a meeting here.