Australia-based FinTech Airwallex says its customers can now accept American Express as a payment method.
The two companies announced their partnership Tuesday (Jan. 17) in a news release provided to PYMNTS, saying it lets Airwallex customers in Australia, Hong Kong, Singapore, and the U.K. accept American Express Card payments from around the world.
“The collaboration focuses on innovative multi-currency cross-border payment solutions for businesses, bringing together Airwallex’s technology and infrastructure with the benefits and convenience of paying with American Express,” Airwallex said.
The company said the collaboration will let customers accept American Express payments through payment links, Xero invoice payments, and eCommerce shopping extensions. With American Express, Airwallex now accepts more than 60 payment methods.
“Together with our global payments and banking infrastructure, we hope we can continue to empower businesses to scale internally and beyond borders,” said Ravi Adusumilli, Airwallex’s senior vice president for partnerships and business development.
As PYMNTS noted last week, many market watchers expect to see continued growth in cross-border eCommerce this year.
“It’s a forecast backed by the belief that this expansion will be enabled, at least in part, by the help of payment platforms that reduce the pain points that small online sellers typically face as they navigate the challenges of trading in new geographies,” PYMNTS wrote.
Among those challenges is maintaining multiple platforms and tools as online sales remain high, Payoneer’s Ya Wen told PYMNTS.
That in turn is leading cross-border hopefuls to seek “consolidated solutions to provide a single-point platform to handle the accounts payable and accounts receivable side of the business,” said Wen, the company’s senior vice president for the Americas.
“There will be a lot more innovation to make accounts payable and accounts receivable easier, faster and cheaper for the eCommerce business.”
Airwallex has been looking to grow internationally in the wake of a $100 million funding round in October that valued the company at $5.5 billion.
“The market environment remains challenging in the foreseeable future, and while we remain well capitalized, this additional runway allows us to continue our growth plans, product expansion, and hire some of the best talents in the world,” CEO Jack Zhang said at the time.
Last month saw the FinTech launch a number of partnerships, including one with Plaid to offer streamlined payments. Airwallex is also working with the travel companies TripActions and Agoda, PYMNTS reported in December.
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