Airwallex has made significant strides in advancing its global expansion strategy, marked by two key developments: it has obtained a payment institution licence from Brazil’s Central Bank and completed the acquisition of MexPago, Fintech Futures reported.
With these two steps, Airwallex is set to integrate its global financial infrastructure with the two largest economies in Latin America. The move aims to support businesses in Brazil and Mexico while streamlining the entry of international companies into the region.
Ravi Adusumilli, President for the Americas at Airwallex, underscored the company’s vision of building a seamless global financial ecosystem. He explained that their infrastructure strategy revolves around linking diverse and strategically vital markets worldwide.
‘With licences in Brazil and Mexico, we can help companies in Latin America to expand and thrive across borders, while also helping businesses around the world to operate more seamlessly in these two dynamic economic markets,’ he added.
Brazilian consumers have embraced payment digitisation, with PIX, Brazil’s instant payment network, projected to handle 40% of online payments by 2026. However, B2B payments, especially cross-border transactions, remain a challenge.
To address this challenge, Airwallex has secured a payment institution licence to support Brazilian businesses with local accounts, card issuance, payment acquiring, and participation in Brazil’s open banking ecosystem. By 2025, Airwallex plans to expand its offerings to global customers, introducing Brazilian reais accounts, PIX, and Boleto payment solutions.
The partnership between MexPago and Airwallex paves the way for seamless, secure cross-border transactions for businesses globally. Luis Castillejos Ordaz, CEO and founder of MexPago, stated that MexPago’s domestic expertise combined with Airwallex’s global reach will provide enhanced value to customers and unlock borderless opportunities for businesses in Latin America and beyond.
The expansion into Brazil and Mexico builds on Airwallex’s existing licences in key global markets, including Australia, Canada, Hong Kong, mainland China, Malaysia, New Zealand, Singapore, the European Single Market, the United Kingdom, and the United States.
Airwallex is a global financial platform providing businesses with solutions for payments, treasury, spend management, and embedded finance. Founded in Melbourne, it supports over 150,000 businesses worldwide, including brands such as Brex, Rippling, Navan, Qantas, and SHEIN.
MexPago, a Mexico-based payment provider, offers payment solutions via major card networks and Sistema de Pagos Electrónicos Interbancarios (SPEI) transfers, enabling businesses to receive payments and make payouts seamlessly on one platform.
