The global fintech and international payments company Airwallex, which operates in the Israeli market, is expanding its operations in Latin America and will now offer Israeli companies a financial infrastructure to help them enter business activities in Central and South America.
This new move will impact Israeli companies that have set Latin America as a business target.
To implement its global expansion strategy in Latin America, Airwallex has taken several steps: It has received a license from Brazil’s central bank as an approved institution for making payments and has completed the acquisition of the Mexican company MexPago, which holds a license for electronic payment transactions (IFPE). Following the receipt of both licenses, Airwallex will connect its global financial infrastructure to the two largest economies on the continent to support companies operating in Brazil and Mexico and help international companies enter the business sector in the region.
Brazil leads in consumer digital payments but lags behind in business-to-business (B2B) payments. Airwallex has set itself the goal of addressing this shortcoming. Through the license it obtained in Brazil, it offers services such as: Opening local accounts, issuing credit cards, and providing payment acquiring services. In 2025, Airwallex plans to launch additional services like bank accounts in the local real currency and payment methods such as PIX and Boleto.
In Mexico, the demand for digital financial tools is growing due to the need for efficient international payment solutions. 85% of small and medium-sized businesses in Mexico plan to expand their operations to other countries, and cross-border payments currently account for 22% of Mexico’s e-commerce. Therefore, the growth rate of such payments in Mexico is very high, partly due to its status as a key trading partner of the U.S. Mexico surpassed China as the largest exporter to the U.S. for the first time in two decades.
The licenses Airwallex has obtained in Brazil and Mexico add to the licenses it has acquired in major global markets, including: The U.S., the European Union, the U.K., China, Singapore, Malaysia, Australia, and New Zealand.
Or Liban, CEO of Airwallex Israel and the Middle East, stated: “Airwallex is committed to providing Israeli companies with the ability to expand their businesses into Latin American countries, especially Brazil and Mexico. Through our global financial infrastructure and the licenses we have received in these two major economies, we offer a reliable, efficient, and cost-effective platform for executing cross-border and local payments.”
Airwallex was founded in 2015 in Melbourne, Australia, and is one of the fastest-growing companies in the world in the field of payments and financial infrastructure. As of August 2024, global Airwallex processed transactions worth more than $100 billion annually, a 73% increase year-over-year. The company’s valuation is $5.6 billion, it employs 1,600 people in 23 offices worldwide, and plans to hire additional employees in Israel and the Middle East during the new year.
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Publish date : 2025-02-16 04:23:00
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