Leading global fintech Airwallex today announced that it now enables businesses to receive and hold funds in Israeli Shekels (ILS) through its Global Accounts and multi-currency wallet. The new offering enables Israeli and global Airwallex customers to open accounts, facilitating seamless transactions in ILS via the Israeli payment network. Transfers can be made through MASAV (ACH) or Zahav (RTGS), providing businesses with greater flexibility and efficiency in managing their global financial operations.

With the introduction of ILS Global Accounts, businesses can now benefit from local collection capabilities, real-time settlement for faster payments, and streamlined treasury management. Customers can access the service through Airwallex’s Business Account, Core API, or Embedded Finance solutions, ensuring integration with existing financial workflows.

In addition to ILS Global Accounts, Airwallex’s multi-currency wallets and cards can be used for transactions in any currency supported by Visa, provided there’s sufficient balance in the user’s Airwallex wallet. Airwallex’s multi-currency cards, combined with Direct Billing, ensure that each customer’s Airwallex multi-currency Wallet is debited directly in their preferred transaction currency, eliminating any hidden charges or conversion fees, making it simpler and more cost-efficient for companies to manage their spending and expenses. For instance, for all ILS transactions, the customer’s ILS wallet will be debited seamlessly, offering unparalleled convenience and transparency for IL companies.

"Enabling businesses to receive and hold funds in Israeli Shekels through our Global Accounts is a significant step in simplifying cross-border financial operations," said Or Liban, VP, Middle East at Airwallex. "Israeli and international companies can now manage ILS transactions and their spend management more efficiently, thanks to Airwallex’s robust financial infrastructure, which ensures local collection and treasury with minimal friction."