Global payments and financial platform Airwallex has partnered with US-based unified global spend platform Brex to advance its global market presence. Airwallex has an expanding ecosystem of customers and partners that allows it to facilitate the global expansion of other businesses.

When commenting on this recent development, a representative from Airwallex emphasised that traditional banking solutions create significant obstacles when it comes to achieving global expansion due to factors such as the complexity of the process, the slow time to market, and the intricate regulatory requirements. Airwallex recognises the significant opening to connect US businesses to its global network and, thus, enable their international expansion. Brex is reportedly the fully unified global spend platform that extends its services to customers across the world.

The company’ s products and solutions include corporate cards, expense management, reimbursements, bill pay, and travel. Following this joint venture with Airwallex, the platform will leverage Airwallex’s suite of solutions, such as its local currency collections for its global corporate card and its global employee expense reimbursements. What is more, Brex is also harnessing Airwallex’s substantial network of more than 50 international licences in a bid to further facilitate its global market penetration.

As per the official statement, Brex outlined its previous efforts that consisted in devoting time and a financial outlay to construct the financial infrastructure supporting its worldwide money transfer solution. Moreover, the unified global spending platform's collaboration with Airwallex represented a strategic point in the process and was informed by Airwallex’s financial infrastructure in multiple markets and its developer-friendly platform. Airwallex’s strategy and past developments Airwallex is a global financial platform that caters its offerings to modern businesses.

The company offers services related to global payments, treasury management, and embedded finance. Airwallex leverages its proprietary infrastructure to reportedly service over 100,000 businesses all around the world. In 2023, the platform announced its collaboration with numerous companies, including TrueLayer, MODIFI, and Expedia.

In addition to this, also in 2023, it was reported that the global financial platform launched a Payments Platform Programme in an effort to expand its global presence. Among its collaborators in the initiative were companies such as Stripe, Nuvei, Airwallex, and Thunes. The joint venture reportedly aimed to connect multiple companies across the payment ecosystem to enhance the banking payment process for international merchants and traders.

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