How Airwallex is Revolutionising Global B2B Payments
Airwallex is making a bold move into Latin America, securing a key regulatory licence in Brazil and acquiring Mexican fintech MexPago.
The dual expansion strengthens its position in the region’s largest economies, helping businesses navigate the growing demand for seamless cross-border payments.
Expanding into Brazil’s evolving payments landscape
Airwallex has secured a payment institution licence from Banco Central do Brasil, granting it the ability to offer local accounts, card issuing and payment acquiring services in Brazil.
This step comes as digital payments surge in the country, driven by PIX, Brazil’s instant payment network. PIX enables real-time bank transfers and is expected to handle 40% of online payments in Brazil by 2026.
Despite this growth in consumer payments, business-to-business (B2B) transactions have lagged behind in digitalisation, particularly for international payments.
Airwallex plans to close this gap by launching services for global customers in 2025.
Businesses will gain access to Brazilian Real accounts with unique identification numbers and integration with local payment methods, including PIX and Boleto. Boleto generates barcodes for transactions and remains a popular payment method in Brazil.
The company will also integrate with Brazil’s open banking ecosystem, enhancing connectivity with local financial institutions and streamlining access to the country’s payment infrastructure. By doing so, Airwallex positions itself as a key player in Brazil’s evolving financial landscape.
Strengthening Mexico’s cross-border payment hub
Airwallex’s acquisition of MexPago marks a significant step in Mexico, a country where 85% of SMEs have international expansion plans. Cross-border transactions already account for 22% of Mexico’s e-commerce activity, growing at a rapid annual rate of 44%.
MexPago operates an integrated payment platform that supports major card networks, including Visa, Mastercard and American Express.
The platform also facilitates SPEI interbank transfers, widely used for both online and in-store transactions. With payment acceptance, supplier payouts and employee disbursements available in one system, MexPago provides businesses with an all-in-one payment solution.
Mexico’s importance in global trade has increased in recent years. It has now surpassed China as the US' largest source of imported goods for the first time in two decades.
Airwallex’s expansion into the Mexican market is well-timed, positioning it at the centre of international trade flows between North and South America.
Luis Castillejos Ordaz, Founder of MexPago, who will now serve as Airwallex Mexico’s Country Manager, highlights Mexico’s strategic role: “Mexico plays a pivotal role in the global economy, serving as a key link between North and South America and a critical hub for cross-border payments.”
Building a global financial network
Airwallex’s expansion in Latin America adds to its growing list of regulatory approvals worldwide. The company holds licences in Australia, the UK, the US, Canada, Malaysia, mainland China, Hong Kong, Singapore, New Zealand and across the European single market.
Supporting more than 150,000 businesses globally, Airwallex serves clients such as Brex, Rippling, Navan, Qantas and SHEIN.
Its financial infrastructure enables businesses to operate seamlessly across borders, reducing friction in international transactions.
Ravi Adusumilli, President of Americas at Airwallex, emphasises the importance of this expansion.
He says: “With licences in Brazil and Mexico, we can help companies in Latin America to expand and thrive across borders, while also helping businesses around the world to operate more seamlessly in these two dynamic economic markets.”
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