Case Study: McLaren Racing streamlines cross-border payments with Airwallex

McLaren Racing saves half a day a month on cross-border payments with Airwallex

McLaren Racing, a Formula 1 team, faced the challenge of managing inefficient cross-border payments to its global suppliers. This manual process was a significant time drain for the finance team and resulted in high foreign exchange fees, which was a critical issue under the sport's strict cost cap. To tackle this, McLaren partnered with vendor Airwallex to use its Business Accounts and FX & Transfers services.

By implementing Airwallex, McLaren automated its payment runs, saving half a day per month. The solution provided access to over 150 payout countries, with 90% of payments arriving within hours. Airwallex also delivered substantial cost savings, reducing FX fees by over $4,900 and providing greater financial agility, which directly contributes to the team's on-track performance.

McLaren Racing