In a significant expansion of its global financial infrastructure, Airwallex has announced its entry into Latin America's two largest economies: Brazil and Mexico. This strategic move positions the company to tap into the region's rapidly growing digital payment landscape and cross-border commerce opportunities.
Breaking Ground in Brazil
Brazil's payment landscape has seen remarkable transformation in recent years, particularly with the success of PIX, the country's instant payment network. While Brazilian consumers have eagerly embraced digital payments – with PIX projected to handle 40% of online payments by 2026 – the business-to-business (B2B) sector has lagged behind, especially in cross-border transactions.
Recognizing this gap, Airwallex has secured a payment institution license from the Banco Central do Brasil. This milestone enables the company to offer Brazilian businesses a comprehensive suite of services, including:
- Local accounts
- Card issuing capabilities
- Payment acquiring services
- Integration with Brazil's open banking ecosystem
Strategic Acquisition in Mexico
Simultaneously, Airwallex has finalized its acquisition of MexPago, a Mexican payment service provider, along with its Institution of Electronic Payment Funds (IFPE) license. This move comes at a crucial time, as Mexico's significance in global trade reaches new heights. The country recently achieved a historic milestone by surpassing China as the United States' top trading partner for the first time in two decades.
The timing couldn't be better, as Mexico's digital payment landscape shows tremendous potential:
- 85% of Mexican SMEs plan to expand internationally
- Cross-border transactions make up 22% of the country's e-commerce activity
- The market for cross-border transactions is growing at an impressive 44% CAGR
What This Means for Global Business
Airwallex's expansion into Latin America represents more than just company growth – it's a strategic bridge connecting businesses across continents. By establishing operations in Brazil and Mexico, Airwallex is creating new pathways for:
- Latin American businesses looking to expand globally
- International companies seeking to enter Latin American markets
- Enhanced cross-border payment efficiency between North and South America
The appointment of MexPago's founder, Luis Castillejos Ordaz, as Airwallex's Country Manager for Mexico demonstrates the company's commitment to combining local expertise with global capabilities.
Perspectives d'avenir
As Airwallex continues to expand its global presence, these latest developments in Latin America add to its impressive portfolio of licenses across major markets, including Australia, Europe, Canada, Asia, and the United States. For businesses looking to operate across borders, Airwallex's growing network represents an increasingly seamless way to manage international financial operations.
The company plans to roll out additional services throughout 2025, including Brazilian Real accounts with unique identification numbers and integration with local payment methods like PIX and Boleto. These developments signal an exciting new chapter in Latin American financial technology and cross-border commerce.
For businesses operating globally or considering expansion into Latin American markets, Airwallex's latest moves provide new opportunities to streamline international operations and tap into one of the world's most dynamic economic regions.
