Airwallex has launched its global payments services in Canada. The launch will empower Canadian businesses to tap into Airwallex’s global payments and financial platform, offering a faster, more cost-effective and transparent alternative to the traditional banking platform.
What does the expansion mean for local businesses?
Businesses in Canada can now access Airwallex’s offerings, such as local currency accounts in over 12 currencies, a multi currency wallet in 44 currencies and payouts to 150 countries with its local payment network. The full suite of Airwallex’s products, including multi-currency cards, spend management and online payments will be progressively rolled out in the market.
Airwallex supports several Canadian businesses across eCommerce, professional services and tech sectors. These clients leverage the Airwallex platform to simplify payments, from collections to payouts, streamline multi-currency management and optimize cost savings.
“To thrive in today’s challenging global economy, businesses must be able to scale without borders, move money across currencies with ease and manage finances across markets with a single integrated platform. Airwallex is excited to support ambitious Canadian businesses who wish to grow internationally, quickly and economically, and international businesses who have operations in Canada,” said Ravi Adusumilli, General Manager of Americas at Airwallex.
“With the launch of global payments in Canada, Airwallex will now empower local businesses even more, to stay competitive, grow their customer base and expand to new markets.”
What does this mean for Airwallex?
Airwallex’s further expansion into Canada comes on the heels of strong growth in the Americas region, where its customer base increased by over 300% YoY. Globally, Airwallex continues to scale at pace, covering over 150 countries, and enabling US$50bn in annualized transactions. Last month, the firm secured an online payment license in China, becoming a third-party payment provider in one of the largest ecommerce markets in the world.
This adds to Airwallex’s existing licenses in markets worldwide, including Australia and New Zealand, UK and the European single market, Hong Kong, Malaysia, Singapore and the US.
Founded in 2015 in Melbourne, Airwallex is one of the world’s fastest growing financial tech companies, operating across APAC, Europe and the Americas with nearly 1,300 employees in 19 major locations. Airwallex (Canada) International Payments Ltd is licensed to do business as a Money Services Business (MSB Registration No. 14460) with Revenu Québec, and is registered as a Money Services Business (MSB Registration No. M19395067) with FINTRAC.
For more information about our Canada offering, please visit the website.
