Published on
April 5, 2024

Inside Look: Businesses Who Transformed Their Cross-Border Payments Experience With Wallex

min read

Any business owner or finance manager will tell you how tedious international payments can be. The high transaction costs charged by banks and fluctuating FX rates can eat away at cash flow and hard-earned profits over time.

Operationally, it can be just as difficult. There will always be a possibility that recipients do not receive their funds on time due to slow processing times or transaction problems. In the latter, businesses are often left without much recourse in terms of support.

Many of these situations used to be encountered frequently by some of our customers until they made the decision to switch to Wallex. Today, we want to share how we managed to make a difference by transforming their cross-border payments experience.

La Cosecha

Singapore-based wine retailer La Cosecha works directly with Spanish vineyards to bring in a wide selection of wines. This involves frequent cross-border transactions from SGD to EUR and incurs high fees in the form of markups on the exchange rate.

Aside from the lack of transparency on how the markups are set, the fees added up over an extended period and was eating into the business’s profits. It was at this point that La Cosecha decided that something had to be done.

After making the switch to Wallex, La Cosecha enjoyed the best possible FX rates on each SGD to EUR payment to their suppliers. These SGD to EUR payments were also much faster and could be settled in a day, as opposed to a week when performed through banks.

Having round-the-clock customer support has also been a game-changer for La Cosecha. Having someone to turn to whenever they encountered issues has given them more confidence in making cross-border transactions.

🔑 Read More: La Cosecha Maintains A Healthy Cash Flow With Wallex


Indonesia e-commerce enabler SIRCLO helps businesses to sell online through online store management platforms and delivers solutions for omnichannel technology development to enterprises. However, the company needs to deploy software and engage vendors overseas to deliver their services, making frequent transactions to countries including Singapore, the United States, and China from their headquarters in Jakarta, Indonesia.  

These transactions of IDR to SGD, IDR to USD, and IDR to CNY had to be performed at the physical bank branch as transfers of over USD $25,000 could not be done online. Transaction limits, limited operating hours of banks, filling out excessive paperwork on each payment, and high fees led SIRCLO to consider and eventually, switch to Wallex.

The difference was felt immediately. Wallex's easy-to-use and secure online platform eliminated the need for physical visits to the bank branch, allowing them to initiate payments of IDR to SGD, IDR to USD, and IDR to CNY in just 15 minutes instead of the 3 hours it used to take.  Another huge benefit came in Wallex’s flat fee of IDR 100,000 per transaction as opposed to the banks’ percentage-based fees, which allows SIRCLO to save significantly more.

🔑 Read More: Indonesia E-Commerce Enabler SIRCLO Cut Down on Time and Costs with Wallex

Marugame Udon

Marugame Udon is one of the world’s largest Japanese restaurant franchises and part of the company’s success is the freshness of its ingredients, which the company’s Indonesian branch purchases directly from Japan each month, along with kitchen utensils.  

Relying on large and reputable banks for their IDR to JPY proved inefficient as the team had to head to a bank branch each time they had to make an overseas payment. It also did not help that the fees charged for each transaction could go as high as several hundred thousand IDR, due to the use of correspondence banks as part of the process.

This is what made the company choose Wallex for their cross-border payments. The move has paid off as it is now possible for the team to perform overseas transfers round-the-clock from their office or home. With Wallex, Marugame Udon also paid IDR 100,000 as a flat fee on every IDR to JPY transaction, resulting in massive savings of up to 60% on their international payment costs since switching to Wallex.

🔑 Read More: Marugame Udon Indonesia Delivers Higher Efficiency in Their International Operations with Wallex Account


ViBiCloud helps companies adopt cloud technology through a number of services, from auditing their client’s IT environment to managing their cloud infrastructure post-deployment. This requires ViBiCloud to deploy and provision software from several overseas vendors in Singapore, Australia, the US and China. As such, the company makes frequent payments of IDR to SGD, IDR to AUD, IDR to USD, and IDR to CNY.

Performing transactions through local banks like CIMB Niaga came with high administrative costs and fees that were usually charged as a percentage of the amount to be sent, making larger payments much more expensive. High volatility of the IDR meant it was expensive to purchase the foreign currencies ViBiCloud needed for its payments too.  

VibiCloud switched to Wallex and the results were soon apparent. They now paid a much cheaper flat fee for every transaction resulting in savings of IDR 1,000,000 every month from provision fees alone. Wallex's secure online platform also meant that visits to the bank were a thing of the past, Another benefit was that the team could now make payments in IDR to SGD, IDR to USD, and IDR to AUD without any transaction limits, which boosted overall productivity.

🔑 Read More: Cloud Solution Provider ViBiCloud Reduces FX Risk and Maximizes Growth with Wallex

Let Wallex transform your cross-border payments experience

If there is one common theme in all these businesses Wallex has helped, it’s that we have helped them to achieve greater speed, support and savings on their cross-border payments. With faster transaction speeds, responsive Account Managers, and reasonable and transparent fees, we’re enabling businesses to focus on what they do best.

Wallex can help you to experience the same with your cross-border payments as well! Regardless of whether it is SGD to AUD, SGD to USD, IDR to USD, IDR to SGD – our platform is designed around the needs of businesses like yours, with features such as bulk payments, transaction tracking, and maker-checker approvals to make your life easier.

Are you ready to transfer your cross-border payments experience? Talk to us today!

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