Airwallex tapped into its growing cross-border opportunities in Latin America by acquiring the Mexican-based payment service provider MexPago and a payment institution license in Brazil.

According to the official announcement, the global fintech giant aims to introduce customized services that will support businesses in these key markets. In Brazil, the company will focus on the B2B payment market.

Airwallex's Expanding Presence in Brazil

According to the company, while Brazilian consumers have quickly adapted to digital payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term, especially through systems like PIX, B2B transactions have not kept pace, especially in cross-border dealings.

Commenting on the expansion, Ravi Adusumilli, the President for the Americas at Airwallex, said: “With licenses in Brazil and Mexico, we can help companies in Latin America expand and thrive across borders while also helping businesses around the world operate more seamlessly in these two dynamic economic markets.”

Through the newly acquired payment institution license, Airwallex expects to offer businesses in Brazil essential tools like local accounts, card issuing, and participation in the open banking ecosystem.

In 2025, the introduction of Brazilian Real bank accounts and local payment options, such as PIX and Boleto, will complement these services.

Meanwhile, Airwallex's acquisition Acquisition Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant's service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There Read this Term of MexPago and its plans to expand into Mexico also focus on capitalizing on the country's rising demand for cross-border payment solutions. A growing number of Mexican SMEs are reportedly looking to broaden their international operations, with 85 percent anticipating expansion.

Airwallex mentioned that cross-border transactions already account for a significant portion of Mexico's e-commerce activity, and the market continues to grow rapidly at a rate of 44 percent annually.

Through the acquisition of MexPago, Airwallex now plans to provide seamless services that will help companies operate effortlessly across borders.

A Global Strategy for Expansion

Luis Castillejos, the CEO and Founder of MexPago, will now serve as Airwallex's Country Manager for Mexico, overseeing the growth and helping businesses navigate the complexities of entering the Mexican market.

“We're proud to join forces with Airwallex to enable seamless and secure cross-border transactions for businesses worldwide. MexPago's domestic capabilities combined with Airwallex's global reach will deliver even greater value to our shared customers,” Castillejos said. “Together, we will unlock borderless opportunities for businesses here in Latin America and around the world.”

Airwallex's moves in Brazil and Mexico are part of its broader global strategy to establish a comprehensive financial infrastructure in key international markets. With licenses already in place in Australia, Canada, the U.S., Hong Kong, the UK, and other regions, the company aims to expand its services in digital payments and financial services.