Following this announcement, the services provided by Airwallex are expected to offer customers and businesses a localised and secure multi-currency shopping experience, as well as the possibility to access cross-border commerce opportunities.
In addition, Airwallex will continue to scale its capabilities across the Americas regions, including Canada and Mexico. The company will also focus on meeting the needs, preferences, and demands of customers in an ever-evolving market while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
Throughout this expansion, US-based merchants and traders will be enabled to use Airwallex’s service in order to accept payments from domestic and international customers. Foreign traders and businesses with US entities will have the possibility to provide a localised payment experience to their local users, which is expected to unlock higher acceptance rates and lower operating costs. The company will continue its strategy of optimising the manner merchants in over 35 countries develop and leverage its payment acceptance solutions, as well as providing them with access to a global customer base.
The launch of Airwallex’s payment acceptance services is set to deliver a localised, multi-currency shopping experience, as it allows companies to increase conversion with the overall ability to process in multiple currencies. Merchants will be enabled to access several alternative payment methods, as well as locally relevant payment capabilities for shoppers outside of the US. At the same time, customers will benefit from multiple integration options, as the company can serve businesses of all sizes through a variety of use cases, or highly customised checkout experiences designed on the Airwallex’s APIs.
In addition, merchants will have the capability to settle transactions in their customer’s preferred currency, while also allowing them to hold those earnings in their Airwallex wallet without being forced to covert. This process is expected to prevent additional FX fees.
The expansion will also provide businesses with access to frictionless `Pay-in` and `Pay-out` opportunities, as payment acceptance will be integrated with Aiwallex’s entire suite of financial products, enabling traders to collect their earnings into the company’s wallet. The funds can later be used to make payments to global suppliers and employees via Airwallex’s local transfer rails, of its Visa cards. In order to work with other providers, clients will be required to wait for funds to be paid out to an external banks account before they can leverage them.
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