Airwallex Expands in Latin America: Brazil License and MexPago Acquisition

Airwallex, a leading global financial platform, has made significant strides in its expansion strategy by securing a payment institution license in Brazil and finalizing the acquisition of MexPago, a Mexico-based payment service provider. These moves enable Airwallex to connect its global financial infrastructure to Latin America's two largest economies, supporting local businesses and facilitating international businesses' entry into the region.



In Brazil, Airwallex obtained a payment institution license, allowing it to offer services such as local accounts, card issuing, and payment acquiring to Brazilian businesses. This move enables the company to tap into the B2B payment market, which has lagged behind in digitization, particularly for cross-border transactions. Additionally, Airwallex plans to participate in Brazil's open banking ecosystem, which will allow it to offer more services to global customers in 2025, such as access to a bank account in Brazilian Reais with a unique identification number, and local payment and collection methods like PIX and Boleto.



The acquisition of MexPago, a regulated Fintech company, enables Airwallex to provide businesses with a modernized way to make and receive all types of payments on one integrated payment platform in Mexico. This move addresses the growing demand for digital financial tools and efficient cross-border payment solutions in Mexico, as well as the country's critical role in the global economy as a link between North and South America and a hub for cross-border payments.

Airwallex's expansion into Brazil and Mexico aligns with its global infrastructure strategy, connecting diverse and strategically significant markets, tapping into B2B payment opportunities, participating in open banking ecosystems, and expanding its global reach. By securing licenses in these key markets, Airwallex strengthens its global financial infrastructure and positions itself to better serve its customers and drive growth in the global financial services market.



In conclusion, Airwallex's entry into Brazil and Mexico is a strategic move that aligns with its global infrastructure strategy and positions the company to better serve its customers and drive growth in the global financial services market. By securing a payment institution license in Brazil and acquiring MexPago, Airwallex gains access to a larger customer base, strengthens its global financial infrastructure, and capitalizes on the growth potential of these dynamic economic markets.