Airwallex, the Hong Kong based fintech has entered the market for a new payment acceptance service. Airwallex has partnered with WeChat Pay, and will be operational in Australia, Hong Kong and Singapore with the new service, which allows merchants to add WeChat Pay as an option on their e-commerce platforms. The main goal behind the expanded service offering is to smoothen out payments between vendors, suppliers and buyers between different currencies and jurisdictions. Using this model, payments made by buyers in Chinese Yuan or Hong Kong Dollar are received by Airwallex and convereted to the merchants choice of currency within two business days. Airwallex is also taking a further step, and is working on a tool that helps with data analytics to help merchants gather insights to boost sales.
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