Airwallex, a digital payments fintech, announced on Thursday the launch of its online card payment acceptance solution in Hong Kong. According to Airwallex, the solution will allow local merchants to accept online card payments made around the world using Visa and Mastercard.
According to Airwallex, c-commerce sales in Hong Kong are forecasted to register a growth of 11.1% this year and are expected to continue with this uptrend beyond the pandemic, driven by increasing demand for payment options that can provide improved security, greater efficiency, and more customized solutions.
“Airwallex’s online card payments solution enables Hong Kong merchants to receive online payments from users of Visa and Mastercard everywhere, and allows for them to optimise working capital flow.”
Speaking about the solution launch, Kai Wu, Greater China CEO of Airwallex, stated:
“Our new online card payments solution means merchants in Hong Kong can now accept payments online via Visa and Mastercard, enjoy favorable currency exchange rates and make payouts seamlessly through a single platform. This makes Airwallex a truly viable solution for businesses and especially the many tech startups and e-commerce merchants that operate in Hong Kong, Asia and around the world.”
As previously reported, Airwallex was founded in 2015 and is described as a foreign exchange market that makes and crosses border payments on Asia-Pacific markets. The company facilitates international money transfers through a combination of payment collection, foreign exchange, and local payment distribution. The company recently secured $160 million through its Series D funding round from various investors, such as ANZi Ventures, Salesforce Ventures, DST Global, Tencent, Sequoia Capital China, Hillhouse Capital, and Horizons Ventures. The latest funding brings Airwallex’s total equity raised to $360 million.