Airwallex, a global payments and financial platform for growing businesses, says it has signed definitive agreements to acquire CTIN Pay, an intermediary payment service (IPS) licensed company in Vietnam.
The acquisition, subject to customary closing conditions, expands Airwallex’s existing licences across major Asia-Pacific (APAC) markets, including Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China and Japan.
This move, the company adds, deepens the global reach of Airwallex’s financial infrastructure, aiding Vietnamese merchants to its overseas expansion, and facilitating international businesses to enter the Vietnamese market.
Airwallex says that Vietnam’s economy, with its strong growth and rapid digital transformation, is well positioned as a strategic growth market for the company in the region.
It adds that by expanding its financial infrastructure across Southeast Asia, Airwallex is well-positioned to support businesses in Vietnam, enabling them to scale internationally with greater ease.
Airwallex is strategically acquiring companies to strengthen its global presence and build a robust financial foundation for businesses worldwide. The acquisition in Vietnam follows the completion of Airwallex’s purchase of MexPago, a Mexico-based payment service provider with an Institution of Electronic Payment Funds (IFPE) licence.
Founded in Australia in 2015 and now headquartered in Singapore, Airwallex has achieved significant growth across the APAC region in recent years. Globally, Airwallex has exceeded US$600 million in annualised revenue and US$130 billion in annualised transaction volume – a testament, it says, to the growing demand for its cross-border payment solutions and global financial infrastructure.
