Qantas Business Money Introduces Yield Powered By Airwallex, Unlocking High Returns and Low Risk For Australian Businesses

Qantas Business Rewards members doing business overseas now have access to Yield, an Australian-made investment tool powered by leading financial and payments platform Airwallex. Yield joins a growing suite of Qantas Business Money products, providing members with a high-rate, low-risk savings option for their AUD and USD account balances.

Yield allows business owners to easily earn returns on idle AUD and USD balances held in their Qantas Business Money account, and generate additional income from exposure to low-risk, highly rated money-market instruments provided by J.P. Morgan Asset Management.

Qantas Loyalty CEO Andrew Glance said the Yield product will be a valuable financial tool for the 625,000 small and medium-sized businesses in the Qantas Business Rewards program.

“Earning Qantas Points on everyday business expenses is one of the most important ways we help our members grow. Adding Yield to the mix will help business owners make their money work harder and unlock even more value when trading overseas.

“The rapid growth of Airwallex and the demand for their products clearly demonstrates how much Australian businesses are looking for smarter ways to manage their finances. Coupled with the enduring popularity of the Qantas Business Rewards program and earning Qantas Points, the new Yield product will be a real drawcard for business owners,” said Mr Glance.

Airwallex Head of Enterprise ANZ, Huw Griffiths, said this is a significant opportunity to help more Australian businesses maximise their returns when doing business overseas.

“With Australian interest rates beginning to ease and returns on traditional deposits shrinking, businesses are increasingly looking for more competitive ways to optimise idle funds. Yield offers Qantas Business Money users access to the kind of high-return USD investment opportunities that were previously only available to large corporations, all within the trusted Qantas Business Money environment.”

“Airwallex Yield has proven to be one of our most in-demand innovations, with over $350 million AUD in business funds having already been put through Yield since it launched to wholesale customers in November 2023 in Australia.”

“This next phase for Qantas Business Money users represents a natural evolution for the technology. We’re looking forward to extending the benefits of Yield to the Qantas Business Rewards program and users looking to optimise their cashflow and grow their businesses internationally.”

Since launching in 2022, Qantas Business Money has enabled businesses to make international payments, hold funds in multiple currencies, and earn Qantas Points on eligible foreign exchange transactions. Through the Qantas Loyalty-Airwallex partnership, Qantas Business Money users will continue to access highly competitive foreign exchange rates that are up to 50 per cent better than the big banks and earn 1 Qantas Point for every $1 AUD converted.

From tech innovators like Phoria to homegrown lifestyle brands such as Wattle Living, a diverse range of Qantas Business Rewards members are already using Yield to simplify their international operations and make their funds work harder.

Yield is now available to eligible Qantas Business Money users with a minimum $10,000 AUD equivalent starting balance, with no additional set-up required and the ability to start earning from day one. Businesses can access or activate Yield via their Qantas Business Money account.