Airwallex rolls out card payment acceptance in the UK and Europe

By Megha Bhattacharya

FinTech Airwallex today announced the launch of its card payment acceptance solution in the UK and Europe, thus enabling merchants to accept card payments around the world. Airwallex stated that the solution would initially support Visa and Mastercard card payments with more methods planned.

James Butland, VP of Global Banking, said, “Ecommerce merchants today have access to many tech-driven ecommerce solutions that can help them easily set up and run their international operations. Existing cross-border financial services, which is a crucial part of this process, do not offer the same seamless experience. Merchants have to patch together different finance solutions to accept payments, repatriate funds from other markets and pay suppliers – these include payment gateways, business bank accounts in different markets, FX providers and remittance solutions. Managing these different solutions can be cumbersome and costly, and as a result, become a barrier to successful global expansion.”

“With the introduction of our new card payment acceptance product, Airwallex now offers everything a merchant needs to operate internationally in an end-to-end platform at the lowest cost. As ecommerce growth continues to accelerate Airwallex is committed to bringing products and services to market that help scale the digital economy and support businesses of all sizes in operating globally.”

Airwallex stated that the new card payment acceptance solution enables merchants to receive funds from anywhere. They can then hold these funds in Airwallex accounts in over 15 currencies, exchange currencies at the mid-market rate with a small transparent margin, and repatriate funds back to home markets with zero payment fees. Merchants in the UK and Europe can now access payments, collections, FX, and virtual global accounts in a single platform, and without the high fees that traditionally come with operating overseas.

Airwallex said that the new card payment acceptance solution is expected to go live in other key markets such as Australia and Hong Kong later in 2020.