Airwallex is rolling out its global payments services in Canada. The launch will empower Canadian businesses to tap into Airwallex’s global payments and financial platform. According to Airwallex, this offers a faster, more cost-effective and transparent alternative to traditional banks.

Specifically, businesses in Canada will have access to Airwallex’s key offerings including local currency accounts in over 12 currencies, a multi-currency wallet in 44 currencies and payouts to 150 countries with its proprietary local payment network. Airwallex’s full suite of global products, including multi-currency cards, spend management and online payments will be progressively rolled out.

“To thrive in today’s challenging global economy, businesses must be able to scale without borders, move money across currencies with ease and manage their finances across markets with a single integrated platform,” said Ravi Adusumilli, General Manager of Americas. “Airwallex is excited to support the ambitious Canadian businesses who want to grow internationally, as well as international businesses with Canadian operations.”

Airwallex already supports a number of Canadian businesses across eCommerce, professional services and technology sectors. These customers leverage the centralised Airwallex platform to simplify payments. This incorporates collections to payouts, streamline multi-currency management and optimise cost savings.

“With the launch of global payments services in Canada, Airwallex will be able to empower local businesses even more, to stay competitive, grow their customer base and expand to new markets,” Adusumilli added.

Airwallex customer base grows by 300% y-o-y

Airwallex’s further expansion into Canada comes on the heels of strong growth in the Americas region. Airwallex’ base has increased by more than 300% y-o-y. Globally, Airwallex continues to scale at pace, covering more than 150 countries, and enabling $50bn in annualised transactions. Last month, the company secured an online payment license in China, becoming a third-party payment provider. This adds to Airwallex’s existing licenses. Current markets include Australia and New Zealand, UK and European single market, Hong Kong, Malaysia, Singapore and US.

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By GlobalData