Financial news

Airwallex has launched its global payments services in Canada. The launch will empower Canadian businesses to tap into Airwallex’s global payments and financial platform as an alternative to traditional banks.

Businesses in Canada can now access Airwallex’s key offerings. These include local currency accounts in over 12 currencies, a multi-currency wallet in 44 currencies and payouts to 150 countries with its proprietary local payment network. The full suite of Airwallex’s global products will be progressively rolled out in the market. Multi-currency cards, spend management and online payments are all included.

“To thrive in today’s challenging global economy, businesses must be able to scale without borders, move money across currencies with ease and manage their finances across markets with a single integrated platform,” said Ravi Adusumilli, general manager of Americas. “Airwallex is excited to support the ambitious Canadian businesses who want to grow internationally, as well as international businesses who have operations in Canada.”

Expanding Canadian offering

Airwallex already supports a number of Canadian businesses across e-commerce, professional services and technology sectors. These customers leverage the centralised Airwallex platform to simplify payments. From collections to payouts, streamline multi-currency management and optimising cost savings.

“With the launch of global payments services in Canada, Airwallex will be able to empower local businesses even more, to stay competitive, grow their customer base and expand to new markets,” Adusumilli added.

Airwallex’s further expansion into Canada comes on the heels of strong growth in the Americas region, where its customer base increased by more than 300 per cent YoY. Globally, Airwallex continues to scale at pace. It covers more than 150 countries, and enables $50billion in annualised transactions.

Last month, the company secured an online payment license in China. As a result, it has become a third-party payment provider in one of the largest e-commerce markets in the world. This adds to Airwallex’s existing licenses in markets around the world, including Australia and New Zealand, the United Kingdom and the European single market, Hong Kong, Malaysia, Singapore and the United States.