Australian fintech firm Airwallex acquires Hong Kong-based UniCard Solution

Melbourne-based fintech firm Airwallex announced it has completed the acquisition of Hong-Kong based UniCard Solution after it received the greenlight from the Hong Kong Monetary Authority.

The AIrwallex team/ Photo credit: Square Peg

Airwallex aims to launch card payment products through UniCard that support multicurrency and cross-border transactions in a safe, convenient, compliant, and cost-effective way in the coming year.

UniCard is a stored value facilities licensee, which means it can use any form of payment disbursement from the stored value facilities system. Meanwhile, Airwallex provides a one-stop shop for payments, collections, foreign exchanges, credit cards, and other value-add solutions for small and medium enterprises.

“Now more than ever, businesses need tools that can support their changing needs for faster and more effective solutions to manage cross-border expenses, global payments, and other transaction needs,” said Jack Zhang, co-founder and CEO of Airwallex. “With the acquisition of UniCard, we hope to continue to innovate and empower businesses in Hong Kong and across Asia to grow without borders.”

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Airwallex’s financial platform can transact across over 130 countries and more than 50 currencies. The company has secured a total of over US$400 million in funding since it was established in 2015 and operates with a team of over 600 employees across 12 global offices.