Australia’s Airwallex Plans Global Expansion of Cross Border Services By Launch In US

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Summary

Australia-based FinTech Airwallex declared its launch in North America to expand its cross-border payment services to US-based businesses. Read the full news.

Press Release

As per the latest reports on Aug 25th, 2021, the Australian-based FinTech company, and a global platform, Airwallex declared its launch in the US in a public statement. The company will work under the latest approved licenses in the United States, demonstrating its presence in the first North American nation. 

This launch will further help the company in extending its international growth momentum as well as make US-based businesses leverage a full range of products to execute their cross-border payment needs in a quicker, transparent, and safe way.

The company is well-versed in facilitating cross-border payments, also explained in the statement that it is establishing one of five engineering centers in San Francisco, where Airwallex already maintains an office consisting of around 30 employees. Talking about other engineering centers, they are in Melbourne; Shanghai, China; Sydney, Australia; and the Netherlands.

The reported expansion in the US is a result of a partnership with Evolve Bank & Trust, as per the statement.

Airwallex’s services mainly focus on small- to medium-sized businesses (SMBs), and offer cards and collections. When it comes to large customers, the company provides an embedded-payment application programming interface (API).

The company was founded in 2015 and at present, it is operating with around 900 employees in 12 offices globally. 

Co-Founder and CEO Jack Zhang explained in the public statement, “The thought behind Airwallex came almost six years prior. My co-founder and I adored coffee and set up a small cafe in Melbourne. Being small business owners, we immediately notice troubles & issues with global payments and the significance of high [foreign exchange (FX)] fees and banking expenses when sourcing for supplies. We were willing to create a better financial and payment solution for organizations working across borders and ensure their capacity to develop.”

“Fast forward to our today’s existence, Airwallex’s tech platform facilitates businesses of all sizes with simple admittance to a robust worldwide infrastructure, empowering them to develop their offerings and worldwide operations. We power some of the leading tech-driven businesses across the world and are glad to soon facilitate the same services to organizations in the US. As we develop, we will keep scaling our products and offerings to better serve the requirements of organizations working globally. ”

Now, he recommended in the statement, the company’s principal value is effortlessness of utilization and a strong framework.

As per the statement, “backed with several local bank associations and licenses, Airwallex will consistently launch its bunch of products and services to organizations in the US., including multi-currency cards and an online payment acceptance service that will enable organizations to get payments from customers worldwide.”

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