Airwallex tapped into its growing cross-border
opportunities in Latin America by acquiring the Mexican-based
payment service provider MexPago and a payment institution license in Brazil.
According to the official announcement, the global
fintech giant aims to introduce customized services that will support
businesses in these key markets. In Brazil, the company will focus on the B2B
payment market.
Airwallex’s Expanding Presence in Brazil
According to the company, while Brazilian consumers
have quickly adapted to digital payments, especially through systems like PIX,
B2B transactions have not kept pace, especially in cross-border dealings.
Commenting on the expansion, Ravi Adusumilli, the President for the Americas at Airwallex, said: “With licenses in Brazil and Mexico, we can help companies in Latin America expand and thrive across borders while also helping businesses around the world operate more
seamlessly in these two dynamic economic markets.”
Through the newly acquired payment institution license, Airwallex expects to offer businesses in Brazil essential tools like local accounts, card issuing, and participation in the open banking ecosystem.
In 2025, the introduction of Brazilian Real bank accounts and local payment options, such as PIX and Boleto, will complement these services.
Meanwhile, Airwallex’s acquisition of MexPago and its
plans to expand into Mexico also focus on capitalizing on the country’s rising
demand for cross-border payment solutions. A growing number of Mexican SMEs are
reportedly looking to broaden their international operations, with 85 percent
anticipating expansion.
Airwallex mentioned that cross-border transactions already account for a significant portion of Mexico’s e-commerce activity, and the market continues to grow rapidly at a rate of 44 percent annually.
Through the acquisition of MexPago, Airwallex now
plans to provide seamless services that will help companies operate
effortlessly across borders.
A Global Strategy for Expansion
Luis Castillejos, the CEO and Founder of MexPago, will
now serve as Airwallex’s Country Manager for Mexico, overseeing the growth and
helping businesses navigate the complexities of entering the Mexican market.
“We’re proud to join forces with Airwallex to
enable seamless and secure cross-border transactions for businesses worldwide.
MexPago’s domestic capabilities combined with Airwallex’s global reach will
deliver even greater value to our shared customers,” Castillejos said. “Together, we will unlock borderless
opportunities for businesses here in Latin America and around the world.”
Airwallex’s moves in Brazil and Mexico are part of its
broader global strategy to establish a comprehensive financial infrastructure
in key international markets. With licenses already in place in Australia, Canada,
the U.S., Hong Kong, the UK, and other regions, the company aims to expand its
services in digital payments and financial services.
Airwallex tapped into its growing cross-border
opportunities in Latin America by acquiring the Mexican-based
payment service provider MexPago and a payment institution license in Brazil.
According to the official announcement, the global
fintech giant aims to introduce customized services that will support
businesses in these key markets. In Brazil, the company will focus on the B2B
payment market.
Airwallex’s Expanding Presence in Brazil
According to the company, while Brazilian consumers
have quickly adapted to digital payments, especially through systems like PIX,
B2B transactions have not kept pace, especially in cross-border dealings.
Commenting on the expansion, Ravi Adusumilli, the President for the Americas at Airwallex, said: “With licenses in Brazil and Mexico, we can help companies in Latin America expand and thrive across borders while also helping businesses around the world operate more
seamlessly in these two dynamic economic markets.”
Through the newly acquired payment institution license, Airwallex expects to offer businesses in Brazil essential tools like local accounts, card issuing, and participation in the open banking ecosystem.
In 2025, the introduction of Brazilian Real bank accounts and local payment options, such as PIX and Boleto, will complement these services.
Meanwhile, Airwallex’s acquisition of MexPago and its
plans to expand into Mexico also focus on capitalizing on the country’s rising
demand for cross-border payment solutions. A growing number of Mexican SMEs are
reportedly looking to broaden their international operations, with 85 percent
anticipating expansion.
Airwallex mentioned that cross-border transactions already account for a significant portion of Mexico’s e-commerce activity, and the market continues to grow rapidly at a rate of 44 percent annually.
Through the acquisition of MexPago, Airwallex now
plans to provide seamless services that will help companies operate
effortlessly across borders.
A Global Strategy for Expansion
Luis Castillejos, the CEO and Founder of MexPago, will
now serve as Airwallex’s Country Manager for Mexico, overseeing the growth and
helping businesses navigate the complexities of entering the Mexican market.
“We’re proud to join forces with Airwallex to
enable seamless and secure cross-border transactions for businesses worldwide.
MexPago’s domestic capabilities combined with Airwallex’s global reach will
deliver even greater value to our shared customers,” Castillejos said. “Together, we will unlock borderless
opportunities for businesses here in Latin America and around the world.”
Airwallex’s moves in Brazil and Mexico are part of its
broader global strategy to establish a comprehensive financial infrastructure
in key international markets. With licenses already in place in Australia, Canada,
the U.S., Hong Kong, the UK, and other regions, the company aims to expand its
services in digital payments and financial services.
This post is originally published on FINANCEMAGNATES.
