Airwallex obtains licence in Brazil and acquires MexPago

As part of its latest announcement, Airwallex unveiled two achievements in its global expansion strategy, including the receipt of a payment institution licence from the Banco Central do Brasil, and concluding the acquisition of MexPago, a Mexico-based payment service provider and an Institution of Electronic Payment Funds (IFPE) licence-holder. By having these two licences, Airwallex is set to be able to connect its global financial infrastructure to Latin America’s largest economies, Brazil and Mexico, to support companies in these regions and facilitate international business entry.

Just a few days before this, ClearBank partnered with Airwallex to improve the latter’s offering in the UK by integrating its agency banking solution. Airwallex was set to receive access to virtual business accounts, GBP collections, and Confirmation of Payee (CoP) functionality. Through these additions, the company intended to further optimise its services for its business customers operating in the UK. Another collaboration that happened recently was between Airwallex and Carwow, with the two companies working on simplifying payment processing for enterprise dealer groups purchasing vehicles from private sellers.

Airwallex’s development plans in Latin America

Entering Brazil and Mexico adds to Airwallex’s existing presence and licences across several markets across the world, including Australia, the European single market, Canada, Malaysia, Hong Kong, New Zealand, Singapore, mainland China, the UK, and the US.

Brazil

To support the advancement of Brazil’s B2B payment opportunity, Airwallex secured a payment institution licence that enables it to provide services to businesses based in the region, including local accounts, card issuing, and payment acquiring. Additionally, the company can now participate in the Open Banking ecosystem in Brazil. Airwallex now intends to introduce more services for global customers in 2025, such as access to a bank account in Brazilian Reais with a unique identification number and payment and collection methods, including PIX and Boleto.

Mexico

Considering that Mexico is now seeing an increase in demand for digital financial tools and the region has a critical role in the global economy, being a link between North and South America, Airwallex aims to serve these needs and participate in the expansion of the market. Commenting on the acquisition, representatives from MexPago underlined that by teaming up with Airwallex, their company can support simplified and secure cross-border transactions for businesses globally. By merging MexPago’s domestic capabilities and Airwallex’s global reach, the organisations plan to provide more value to shared customers.

Airwallex expands its operations in Brazil and Mexico

Airwallex’s development plans in Latin America

Brazil

Mexico

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