Airwallex Launches Payment Acceptance Solution for US Merchants, Expanding Global Reach

Airwallex, the leading global payments and financial platform tailored for modern businesses, has unveiled its latest initiative targeting US merchants, as stated in The Fintech Times. This strategic move aims to empower merchants in the United States to seamlessly accept payments from both local and international customers, thereby broadening their market reach.

In a bid to cater to the evolving needs of today’s businesses, Airwallex’s payment acceptance solution enables foreign merchants operating through US entities to offer a localized payment experience to their American clientele. This localized approach not only enhances acceptance rates but also slashes operational costs, fostering a more competitive edge in the market.

As highlighted in a recent study, consumer demand for purchasing from overseas merchants remains robust, despite prevailing macroeconomic challenges. To capitalize on this burgeoning opportunity, Airwallex emphasizes the pivotal role of a localized checkout experience. Statistics reveal that 93 percent of consumers are influenced by products priced in their local currency, with 77 percent likely to abandon their shopping carts if their preferred payment method is unavailable.

Ravi Adusumilli, the Executive General Manager of Americas at Airwallex, underscores the significance of this initiative in facilitating global commerce. He remarks, «With payment acceptance live in 35 markets across Asia Pacific, Europe, and now the US, Airwallex is poised to take on the biggest names in online payments.» Adusumilli elucidates Airwallex’s commitment to providing a robust global financial infrastructure that caters to businesses of all sizes, offering a gateway for US companies to tap into a vast international customer base while facilitating global access to the lucrative US market.

Notably, Airwallex’s solution enables merchants to settle transactions in their customers’ preferred currencies, with the flexibility to retain earnings in their Airwallex wallet without mandatory conversion. This feature mitigates additional foreign exchange fees, which typically erode profits by one to two percent per transaction.

Currently, Airwallex extends its payment acceptance services to merchants in 35 countries worldwide, empowering them to expand their businesses by capitalizing on a diverse global customer base. The platform’s flexibility allows merchants to offer a spectrum of payment methods, including popular options like Klarna and PayPal, alongside region-specific alternatives such as GrabPay in Malaysia and Singapore, iDEAL in the Netherlands, and Giropay in Germany.

In its pursuit of customer-centric growth, Airwallex caters to businesses of all sizes, offering tailored solutions ranging from simple payment links to integration with renowned e-commerce platforms like Shopify and WooCommerce. Furthermore, Airwallex’s APIs facilitate the development of highly customized checkout experiences, empowering software platforms to embed and monetize their payment products seamlessly.

This announcement aligns with Airwallex’s ongoing commitment to expansion and innovation, particularly in the Americas region. With recent ventures into Canada and forthcoming plans for Mexico, including the acquisition of MexPago, a Mexico-based payment service provider, Airwallex solidifies its position as a key player in the global financial landscape.

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