Qantas & Airwallex unveil Yield to boost business returns

Qantas and Airwallex have launched Airwallex Yield to Qantas Business Money users, giving over 625,000 small and medium-sized businesses new ways to earn returns on unused Australian and US dollar balances. The product enables companies to earn returns from low-risk, highly rated money market instruments, aiming to assist with cash flow optimisation and financial management.

Investment returns

The new feature allows account holders to generate income from idle funds by providing access to money market investments offered by J.P. Morgan Asset Management. With rising interest in more competitive investment tools, the move targets businesses seeking alternatives to traditional deposits amid a changing interest rate environment.

Airwallex Yield had previously been available to wholesale users since 2023. More than AUD $350 million in business funds have already been invested in the offering to date, according to Airwallex.

Access conditions

Eligible users of Qantas Business Money, the financial platform integrated with the Qantas Loyalty programme, can now activate Yield if they have a minimum opening balance of AUD $10,000. There are no additional set-up requirements, and businesses can access or activate the product within their existing account.

Yield complements existing functionality in Qantas Business Money, which allows members to make global payments, hold multi-currency accounts, and earn Qantas Points on foreign exchange transactions.

Supporting growth

The joint initiative is positioned to support businesses in deploying funds for growth while travelling or trading overseas. The product's launch reflects growing demand for diversified income strategies as returns from standard deposits soften in Australia and abroad.

Qantas Loyalty Chief Executive Officer Andrew Glance described the value the new tool adds to its business membership.

"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 Glance.

Broadening access

Huw Griffiths, Head of Enterprise ANZ at Airwallex, emphasised the opportunity for smaller businesses to utilise investment products previously out of reach.

"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," said Griffiths.

"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," said Griffiths.

"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," said Griffiths.