Leading fintech platform Airwallex today announced a HK$2.25 million initiative to support Small and Medium Enterprises (SMEs) in Hong Kong. Over the next three months, Airwallex, together with a number of its local partners, will provide a series of exclusive offers to help businesses recover and reopen from the pandemic while managing costs.
Hong Kong SMEs continue to combat the coronavirus related economic disruptions, and are experiencing numerous hurdles as they try to recover and rebuild in the wake of the pandemic. With over 340,000 SMEs operating in Hong Kong today, these businesses serve as vital economic engines for the city, making up 98% of the city's business establishments and employing about 45% of the private sector workforce*.
"SMEs are the backbone of Hong Kong's economy, and in the months ahead, many of these businesses will continue to face challenges in managing their financials and cash flows," said Arnold Chan, Head of SME, Hong Kong & Singapore at Airwallex. "As the pandemic situation continues to impact local businesses, we hope that by doing our small part, we can help local businesses power through these difficult times and facilitate their path to recovery. With support from our partners, our offers aim to provide a more convenient and cost-efficient solution for making cross-border payments."
Through this initiative, SMEs can open an Airwallex business account for free, and also enjoy $0 transfer fees for international payments to 60 destinations. Customers will also be able to enjoy exclusive subscription fee discounts, rebates and other perks through Airwallex's local partners including Boutir, Bowtie, GOGOX, Google Ads, Google Workspace, SleekFlow, Xero and YOOV.
Founded in 2015, Airwallex is one of the fastest growing financial technology companies, offering a suite of global payment solutions across Asia-Pacific, Europe and North America. In Hong Kong, Airwallex offers a wide-range of products and offerings, including its Airwallex Borderless Cards, online card payments solution and expense management platform.
For more information about the initiative, please visit: https://www.airwallex.com/hk/2022-sme-initiative
Additional Quotes from Airwallex Partners 
Fred Ngan, Co-founder & Co-CEO, Bowtie
"We are pleased to be joining hands with Airwallex, aligning our mutual objective to support Hong Kong SMEs at this challenging time. As the first virtual insurer in Hong Kong, we are committed to safeguard businesses with quality health and wellness solutions for their employees as we look to provide affordable, cashless medical insurance to the Hong Kongcommunity at large."
Nellie Chan, Head of Google Customer Solutions Sales at Google Hong Kong 
"Hong Kong businesses are always resilient and creative. With Google Hong Kong's Smarter Digital City initiative, we collaborate with ecosystem players to help the city unlock the potential in digital. As the pandemic continues, it's more critical to accelerate technology adoption and implement effective digital business strategy. 
We're glad to support this initiative by Airwallex. By bringing expertise and offers in digital marketing with Google Ads and business productivity tools Google Workspace, we hope to support Hong Kong SMBs recover, scale, and pivot in today's dynamic environment."
Reeve Kwan, Co-founder of GOGOX
"As the city's homegrown company, we are committed to delivering reliable and efficient logistics services that add extra value to SMEs. As businesses gradually recover, we are looking forward to working with Airwallex to launch more initiatives to support Hong Kong'sbusinesses and rebuild prosperity."
About Airwallex
Airwallex is a global payments platform with a mission to empower businesses of all sizes to grow without borders, and by doing so, contribute to the global economy. With technology at its core, Airwallex has built a financial infrastructure and platform to help businesses manage online payments, treasury and payout globally, without the constraints of the traditional financial system. Airwallex has secured over US$800 million since it was established in 2015, and is backed by world-leading investors. Today, the business operates with a team of over 1,100 employees across 19 locations globally. For more information, please visit www.airwallex.com.