FinTech company Airwallex launches service with WeChat Pay

Source: IBS Intelligence 2020-06-05

Hong Kong-based FinTech company Airwallex, has launched a new payment acceptance service in Australia, Hong Kong and Singapore with WeChat Pay. The service allows merchants to add WeChat Pay as an additional payment option on their e-commerce platform. The new offering will provide merchants with global access to over 800 million Chinese consumers on WeChat Pay, enabling them to tap into a key Asian marketplace of active shoppers.

Airwallex’s WeChat Pay solution is designed to ensure smooth and fast flows of funds from buyers to the merchants. Payments made by the buyers in Chinese Yuan or the Hong Kong Dollar (for Hong Kong users) are received by the FinTech company Airwallex, and converted to the merchants’ currency of choice within two business days.

Dave Stein, Airwallex’s Head of Corporate Development in Australia said, “We have seen e-commerce thrive during these unprecedented times. We believe this transition is here to stay even after the global lockdown ends, life normalises and shops reopen. As more merchants transition online, they require a wide range of payment acceptance options to remain relevant to different payment preferences around the world. With our new WeChat Pay solution, we are enabling merchants to adapt in today’s climate and also helping them open the doors to one of the largest and most active consumer markets in this world.”

“Adding a payment acceptance solution to the Airwallex product portfolio is an important next step to enhancing our end-to-end financial services solutions. We are now perfectly positioned to improve the way businesses collect online payments and ensure that the process is as fast, secure and seamless as possible,” Stein continued.

On the Airwallex platform, merchants can view, track and manage their WeChat Pay transactions, download settlement reports, as well as issue refunds to deliver a seamless customer experience. Airwallex is currently working on additional features such as a data analytics tool which will provide important business insights on WeChat Pay payments to help merchants tailor their strategies, and boost their sales.

Now available in Australia, Singapore and Hong Kong, the new WeChat payment acceptance solution is a significant addition to the Airwallex product suite as the Group continues to build an end-to-end financial services product for digital businesses. With card payment acceptance also arriving this year, starting in Hong Kong, Airwallex’s customers will soon have multiple convenient methods to accept payments from anywhere in the world.

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FinTech company Airwallex launches service with WeChat Pay

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