Airwallex and Expedia Group have teamed up to offer a discount to global business travelers.
Existing and new users of the Airwallex payments and financial platform can receive a 10% discount off hotel stays that they book on the Expedia travel technology platform, the companies said in a Wednesday (May 17) press release.
“With so many business travelers looking to book trips amid rising costs and inflation, this partnership with Expedia makes travel more affordable for all Airwallex customers around the world,” Airwallex Head of North American Strategic Partnerships Jessica Chiu said in the release.
The partnership of Airwallex and Expedia is being launched at a time when 1 in 3 people are planning to travel on business in the next year, according to the press release.
The release attributed the rise in intent to travel in part to the lifting of COVID-19 restrictions.
The reopening of China bodes well for the online travel agency (OTA), although issues with navigating around Russian airspace will remain a challenge for the immediate future, Expedia Group Vice Chairman and CEO Peter Kern said in February during a quarterly earnings call.
The release also said businesses understanding the importance of face-to-face engagements has contributed to the increase in plans for business travel.
“We are delighted to be partnering with Airwallex to offer their members a way to access discounts across our depth and breadth of global travel supply on our sites,” Expedia Vice President, Retail Partnerships Clayton Nelson said in the release. “We’re always looking for ways to connect our partners with travelers via our industry-leading affiliate technology.”
This news comes about seven months after Airwallex raised an additional $100 million in a Series E extension funding round that valued the company at $5.5 billion.
The company said in October 2022 that it would use the new funding to help foster continuing international market expansions and support current strengths in powering payments and banking infrastructure.
“The valuation underscores investors’ confidence in Airwallex’s core business value and fundamentals, and we are fortunate to have the continued support of our existing investors, and the confidence of new investors, as we pursue our vision to become the global economic infrastructure for modern businesses,” Airwallex Co-founder and CEO Jack Zhang said at the time.
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