Global fintech platform Airwallex has introduced its online card payment acceptance solution in Hong Kong.

The solution will enable the local merchants accept international online card payments made using Visa and Mastercard.

The move comes as e-commerce sales in Hong Kong are expected to increase significantly this year. The increase will in turn increase demand for payment options and fuel cross-border transactions.

Airwallex enables merchants receive payments in more than 120+ currencies available on Visa and Mastercard’s network.

Airwallex Greater China CEO Kai Wu said: “Hong Kong’s pace of digital adoption is taking shape in a new era of innovation, and in an environment where there is an increasing need for efficiency and fast solutions to ensure business success.

“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.”

Founded in 2015, Airwallex aims to enables businesses to operate without borders and support online payment requirements.

In September last year, the company introduced its online card payments solution in the UK and Europe.

Airwallex increased its valuation to $2.6bn following a fundraising round this March.