How Airwallex Streamlined International Payments and Growth
Discover how Airwallex harnessed Rutter’s API technology to expedite global payments, curtail build time, and swiftly venture into new markets, all while maintaining cost-efficiency.
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Identifying the Challenge
Marketplaces around the world rely on Airwallex to power their global payments, and the company needs merchants to provide specific information for regulatory and compliance purposes. Airwallex sought to streamline this data retrieval process but faced challenges due to the differing APIs, documentation, and protocols across platforms. This manual approach was not only difficult but also costly.
The team needed a platform capable of creating these integrations more efficiently while reducing maintenance costs. This is where Rutter came into the picture, offering an abstraction level that allowed easy building and maintenance of various platform integrations.
Selecting Rutter as the go-to provider for integration needs
In their quest for the best solution, Richard and his team assessed various potential partners in API aggregation, IPaaS, and Integration Connectors. Rutter's agility and startup culture, and its technology was robust enough to handle the required volume while maintaining cost efficiency.
Despite no provider having full coverage of all platforms Airwallex needed, Rutter's speed and capacity to build additional platforms were key factors in their choice.
Buy vs Build: Choosing external provider over in-house development
For Airwallex, opting for a vendor like Rutter instead of maintaining in-house integrations allowed Airwallex to focus their attention on other business priorities.
"Rutter’s cost is cheaper than any headcount we need to build and maintain these integrations. Plus, their documentation is impressive, the APIs are very elegant, and they met our security, latency, and performance needs."
The time required to scope, build, and test an integration was dramatically reduced from 1-2 months to 1-2 weeks for scoping and much less for building.
With emerging marketplaces appearing worldwide, prioritizing became challenging for Richard's team. However, Airwallex can launch these emerging marketplaces within weeks with Rutter. "With Rutter, it takes us 1-2 weeks to build the auth flow into our web application... Having these new integrations allows us to open the floodgates to new customers," Richard said.
Richard credits part of their success to their close partnership with Rutter. The Rutter team's responsiveness and cooperation have contributed to Airwallex's speed and efficiency.
Looking Forward
With e-commerce being a thin margin and a high cash flow industry, Richard sees the opportunity to launch additional products on top of Rutter's data.
"We already have the data setup from the integration that powers our fund's movement use case, and we can use that same data for many other use cases in the future, such as providing merchants with cash extensions."
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