Airwallex Expands into Latin America, Strengthens Presence in Brazil and Mexico
Airwallex is expanding its global reach into Latin America, entering Brazil and Mexico, the region’s two largest economies. With these moves, Airwallex aims to support businesses operating in these fast-growing markets and improve cross-border payment solutions for companies worldwide.
On January 15, 2025, Airwallex secured a payment institution license from Brazil’s Central Bank and completed the acquisition of MexPago, a Mexico-based payment service provider. This will help Airwallex provide seamless financial services to businesses in both countries.
Ravi Adusumilli, President of Airwallex Americas, stated, “With licenses in Brazil and Mexico, we can help businesses in Latin America expand internationally, while also simplifying operations for global companies in these key markets.”
Brazil’s Growing B2B Payment Market
While Brazil has been a leader in consumer payment digitization, its B2B payment sector, especially for cross-border transactions, has struggled. Airwallex’s new license in Brazil will enable local businesses to access services like local accounts, card issuing, and payment methods such as PIX and Boleto. This will help Brazilian businesses streamline international payments and thrive in the digital economy.
Cross-Border Growth in Mexico
Mexico is becoming a major hub for cross-border payments, with 85% of small and medium-sized enterprises (SMEs) planning to expand internationally. As the top exporter to the U.S., Mexico plays a crucial role in global commerce. By acquiring MexPago, Airwallex can offer businesses in Mexico a more efficient way to manage international payments and operations.
Luis Castillejos Ordaz, CEO of MexPago, said, “This partnership will enable seamless, secure cross-border transactions for businesses around the world, helping them tap into Mexico’s growing economy.”
Global Expansion Strategy
This expansion into Brazil and Mexico is part of Airwallex’s broader strategy to strengthen its global presence. The company already operates in major markets like the U.S., the EU, Australia, and China, helping businesses manage payments, treasury, and spend management worldwide.
With the addition of Brazil and Mexico, Airwallex is poised to support businesses looking to grow and succeed in these rapidly developing markets.
