Australian payment platform Airwallex has finalized its acquisition of Mexican paytech Mexpago, 14 months after the initial announcement in October 2023.
Airwallex is a global payments and financial platform that helps businesses manage accounts, payments, treasury, and embedded finance.
Mexpago provides mobile point-of-sale solutions for businesses to accept card payments and manage their spending.
By leveraging Mexpago’s Institución de Fondos de Pago Electrónico (IFPE) license, Airwallex will enter the Mexican market and expand its cross-border payment operations in Latin America. In line with its Latin America strategy, Airwallex also obtained a payment institution license in Brazil.
“With licenses in Brazil and Mexico, we can help Latin American businesses expand and thrive across borders, while also helping companies around the world operate more smoothly in these two dynamic economic markets,” said Ravi Adusumilli, President of Airwallex for the Americas.
Founded in 2015, Airwallex processes over $100B in global payments annually and serves over 150K businesses worldwide, and its clients include Shein, Brex, and Xero.
Read more on LatamFintech Hub.