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The Airwallex service offers a localized multi-currency shopping experience for businesses at home and abroad, unlocking cross-border commerce opportunities.
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Airwallex will continue to scale its offering across the Americas region including Canada and Mexico.
Airwallex, a leading global payments and financial platform for modern businesses, today announced the U.S. launch of its payment acceptance solution. U.S.-based merchants can use the service to accept payments from domestic and international customers. Additionally, foreign merchants with U.S. entities can provide a localized payment experience to their U.S.-based customers, unlocking higher acceptance rates and lower operating costs. Airwallex now supports merchants in 35 countries with payment acceptance services, enabling them to grow their business with access to a global customer base.
“With payment acceptance live in 35 markets across Asia Pacific, Europe, and now the U.S., Airwallex is poised to take on the biggest names in online payments,” said Ravi Adusumilli, executive general manager of Americas at Airwallex. “We’re investing here for the long-term, showing businesses of all sizes what a truly global financial infrastructure can deliver. The opportunity we’re delivering is two-fold: helping U.S. companies tap into a global customer base, and helping businesses around the world access the massive U.S. market.”
“With payment acceptance live in 35 markets across Asia Pacific, Europe, and now the U.S., Airwallex is poised to take on the biggest names in online payments”
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Cross-border eCommerce at a tipping point
The launch of Airwallex’s payment acceptance services comes at a moment of tremendous opportunity for cross-border eCommerce. According to a recent study, over half of consumers around the world expect to increase their purchase frequency from overseas merchants, despite macroeconomic headwinds. For merchants to capture that opportunity, a localized checkout experience is essential, as 93% of consumers report that seeing products priced in their local currency impacts their decision to purchase, and 77% say they are likely to abandon their cart if their preferred payment method is unavailable.
Process payments like a local
Airwallex’s payment acceptance offering is purpose-built for the globally connected economy. With Airwallex’s payment acceptance, merchants and platforms gain:
- A localized, multi-currency shopping experience: Airwallex’s payment services allow companies to create a localized checkout experience to increase conversion, with the ability to price in multiple currencies. Merchants can offer a variety of alternative payment methods – such as Klarna and PayPal – as well as locally relevant payment methods for shoppers outside of the U.S. – such as GrabPay in Malaysia and Singapore, iDEAL in the Netherlands, Giropay in Germany, and many more.
- Savings on unnecessary fees: Unlike other payment facilitators, merchants can settle transactions in their customer’s preferred currency and hold those earnings in their Airwallex wallet without being forced to convert. This prevents additional FX fees that can eat away 1-2% of every dollar earned and leave significant dents in a merchant’s profits and bottom line.
- Multiple integration options: Airwallex can serve customers of all sizes through a variety of use cases, including simple payment links attached to invoices, integrations with popular e-commerce platforms like Shopify and WooCommerce, or highly customized checkout experiences built entirely on Airwallex’s APIs. Software platforms that are looking to embed and monetize their own payments products can also leverage Airwallex’s APIs to build their solution.
- Frictionless “Pay-in” and “Pay-out:” Payment acceptance is seamlessly integrated with Airwallex’s entire suite of financial products, allowing merchants to collect their earnings into their Airwallex wallet. Those funds can then be used to make payments to global suppliers and employees via Airwallex’s extensive local transfer rails or Airwallex-issued Visa cards. With other providers, customers must wait for funds to be paid out to an external bank account before they can make use of them.
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