Airwallex has expanded its global reach by securing a Brazil payment licence and acquiring MexPago in Mexico, enhancing cross-border payment solutions across Latin America’s largest economies.
The move aims to enable businesses in the region to expand internationally and support global enterprises entering these dynamic markets.
Founded in 2015, Airwallex provides innovative cross-border payment and financial solutions to businesses worldwide.
With operations across major markets such as Australia, Europe, the US, and Asia, the company has positioned itself as a leader in facilitating seamless international transactions.
Through its new licences, Airwallex will offer Brazilian businesses services including local accounts, card issuing, and payment acquiring, while also participating in Brazil’s open banking ecosystem.
Upcoming launches in 2025 include access to Brazilian Reais accounts with unique identifiers and payment systems such as PIX and Boleto, addressing the digitisation gap in Brazil’s B2B payments market.
In Mexico, Airwallex’s acquisition of MexPago positions the company to meet the rising demand for efficient cross-border payment tools.
With 85% of Mexican SMEs planning international expansion and cross-border transactions already representing a significant share of e-commerce, this acquisition allows Airwallex to capitalise on Mexico’s rapidly growing market, which boasts a CAGR of 44%.
MexPago CEO Luis Castillejos Ordaz, now Country Manager for Airwallex Mexico, commented on the partnership: “Mexico plays a pivotal role in the global economy, serving as a key link between North and South America and a critical hub for cross-border payments. MexPago’s domestic capabilities combined with Airwallex’s global reach will deliver even greater value to our shared customers.”
This expansion builds on Airwallex’s strong global presence, with licences in markets including Canada, Singapore, mainland China, and the UK.
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