Airwallex launches in payments platform in New Zealand
The payments platform has previously expanded into Singapore and Malaysia earlier this year as the firm strengthens its footprint in the APAC region. Airwallex is also present in Hong Kong.
Australia-headquartered Airwallex has launched its global payment services in New Zealand as the fintech firm brings its “faster, more cost-effective and transparent alternative to traditional banks” to a new market.
The NZ expansion is also an opportunity for Airwallex customers to open a Global Account in New Zealand Dollars (NZD) in seconds. This should help businesses with operations in Australia and New Zealand to easily collect payments from their customers, pay their suppliers and staff in both countries, as well as convert NZD to AUD (and vice versa) at competitive rates.
Airwallex will start its NZ operation by offering international collections, multi-currency wallets in over 11 currencies, and local payouts in over 30 currencies.
The full product, which includes multi-currency company and employee cards, spend management and online payment acceptance capabilities, will be progressively rolled out in the market.
Airwallex is a fully registered Financial Service Provider with the Financial Service Providers Register in New Zealand.
Airwallex empowers Kiwi businesses to expand
Sam Kothari, Airwallex’s Head of Growth for ANZ, said: “We are so pleased to be extending our services to New Zealand, a natural next step after establishing a strong presence in our home market of Australia. We see today’s launch as a huge opportunity for Kiwi businesses to broaden their reach into international markets.
“Our entry into the New Zealand market is something our customers have been requesting for some time; businesses tell us they have been deterred from reaching their full potential in this market due to the complexity of making international payments or trading across borders. By providing local businesses with a single global financial platform, we aim to empower them to scale successfully, which is especially critical in this current economic environment”, Sam Kothari continued.
“Many of our Australian customers have expanded to New Zealand. Ensuring that these Australian businesses now have an efficient and cost-effective way to streamline their financial operations between the two countries can help them with their growth plans in the ANZ region.”
Airwallex was founded in 2015 in Melbourne, Australia, and is currently operating across Asia-Pacific, Europe and North America, with over 1,200 employees in 19 major locations.
The payments platform has previously expanded into Singapore and Malaysia earlier this year as the firm strengthens its footprint in the APAC region. Airwallex is also present in Hong Kong.
