Airwallex has signed an agreement to acquire CTIN Pay, a Vietnam-based payment services provider with an intermediary payment service (IPS) license.

The deal, for which financial terms remain undisclosed, aims to strengthen Airwallex’s licensing footprint across key Asia-Pacific markets, including Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan.

It also enhances the company’s financial infrastructure, facilitating international firms’ entry into Vietnam while supporting local businesses in expanding overseas.

To drive regional expansion, Airwallex has appointed Ershad Ahamed as head of Southeast Asia. Ahamed, formerly with GrabFin Indonesia and Rakuten, will oversee the company’s growth strategy in the region.

The move follows Airwallex’s recent acquisition of MexPago, a Mexican payments firm, which secured the company an electronic payments fund (IFPE) license.

Founded in Melbourne in 2015 and now headquartered in Singapore, Airwallex continues to report strong growth, with annual revenue exceeding US$600 million and a global transaction volume of US$130 billion.

Recent Airwallex developments