"Airwallex is launching a point-of-sale product that allows businesses to accept in-person payments in multiple countries via a single platform, without onboarding local vendors in every market."
"CEO Jack Zhang emphasized that when a business expands into a new market, they typically have to onboard a new local acquirer, navigate fragmented compliance, and manage yet another set of vendor relationships."
"Zhang founded Airwallex in 2015 out of frustration with the friction and expense of moving money internationally, taking a unique approach by building its own payment rails."
"Today, Airwallex claims it generates annualized revenue of about $1.3 billion, growing by roughly 85% every year, and serves more than 46,000 U.S. businesses."
Airwallex is expanding into in-person payments with a new point-of-sale product that allows businesses to accept payments in multiple countries through a single platform. This innovation aims to simplify the process of entering new markets by eliminating the need for local acquirers and managing multiple vendor relationships. Founded in 2015, Airwallex has grown significantly, now valued at $8 billion and generating $1.3 billion in annual revenue. The company holds nearly 90 regulatory licenses and connects to local payment networks in over 120 countries.
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