Airwallex launches operations in New Zealand

The company aims to provide businesses with alternative financial solutions to traditional banking, focusing on faster international transactions and cost-effective services. Company officials stated that many businesses in New Zealand are looking for more flexible and cost-efficient financial solutions. They added that Airwallex’s entry into the market is intended to offer businesses the tools needed to expand internationally without the constraints of conventional banking.

Expansion of services for local businesses 

As part of its New Zealand expansion, Airwallex is introducing additional financial products. The company’s corporate card service, previously available only in a virtual format, will now include a physical card option.  

These products are intended to help businesses manage expenses more effectively by reducing transaction costs and enhancing financial oversight. Airwallex is also incorporating online payment services alongside its existing foreign exchange, global accounts, and corporate card solutions. 

According to the official press release, the company’s corporate card solution is designed to simplify expense management while improving financial transparency. Company officials also highlighted the firm’s payment acceptance feature, which enables businesses to receive payments from global customers with flexible settlement options.

Competitive positioning in New Zealand’s financial sector

The company’s expansion comes in the context of New Zealand’s efforts to accelerate its economic recovery and double its export growth over the next decade. Airwallex’s services are positioned to support businesses looking to scale operations internationally by providing more efficient financial infrastructure. 

New Zealand’s financial landscape has traditionally been dominated by a few major banks, resulting in higher fees and slower international transactions. Airwallex aims to address these challenges by offering competitive foreign exchange rates and faster cross-border payments. This is expected to be particularly beneficial for industries such as SaaS and exports, which rely on international transactions. 

It’s worth noting that the company has already attracted interest from startups through its ‘Airwallex for Startups’ initiative, which offers international payment capabilities, global accounts, and foreign exchange services.

For more information about Airwallex, please check out their detailed profile in our dedicated, industry-specific Company Database.