Login or request a free trial

Qantas moves into global payments

Qantas has launched an international payments service for its Qantas Business Rewards members, offering “local business accounts” in 11 currencies and competitive foreign exchange rates.

Qantas Business Money has been developed in partnership with payments platform operator Airwallex. The service will be available in the June quarter and has a target market of 350,000 businesses.

Payments will be made using digital Visa business debit cards and will be in local currencies when transactions are made overseas.

Qantas said Qantas Business Rewards members will earn up to 25,000 points when they sign up and will earn ongoing points, at a rate of one point for every $10 transacted.

Airwallex has regulatory approvals to operate a payments business in Asia Pacific, Europe and the United States.

Qantas conducted trials with 170 companies last year.

I'm a returning subscriber

Password reset
Login

Request a free trial

  • Emailing you the news at 7am.
  • Covering core lending and funding issues, strategy, payments, regulation, risk management, IT, marketing and more.
  • Original news and summaries of major stories from other media – ditch your newspaper subscriptions.
  • Focused on banking and finance, saving you the time spent wading through newspapers and other services.
  • With reporting from former editors and senior writers from the AFR and The Australian.
  • Configured for your phone, laptop and PC.
Free trial Banking Day