Global fintech firm Airwallex has launched its payment acceptance services in the US. The move comes a year after the firm launched in Canada, China, and Israel and after it acquired a fintech firm in Mexico.
This lets US businesses use Airwallex to accept both domestic and international payments, while foreign companies with operations in the country can provide local payment options to customers there. For instance, cross-border merchants can offer payment methods like Klarna and PayPal, which are popular in the US, but also offer options like GrabPay in one go.
“The opportunity we’re delivering is twofold: helping US companies tap into a global customer base and helping businesses around the world access the massive US market,” said Ravi Adusumili, Airwallex’s executive general manager of the Americas, in a statement.
Airwallex, which is now active in 35 countries, has also seen rapid growth in its Singapore operations. Revenue for its entity in the city-state increased 13x while transaction volumes rose 11x in the first half of 2023 compared to the previous year, though the company did not disclose dollar amounts.
Founded in Melbourne in 2015 by Jack Zhang and Max Li, Airwallex’s offerings include global account issuance, domestic and cross-border money transfers, multicurrency wallets, and online payment acceptance.
According to Tech in Asia‘s database, the firm has raised US$1.1 billion in disclosed funding from investors like Tencent, Sequoia Capital, and Salesforce Ventures.
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Editing by Putra Muskita and Jaclyn Tiu
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