Airwallex expands into New Zealand

Airwallex has launched its global payment services in New Zealand, providing Kiwi businesses with international collections, multi-currency wallets in over 11 currencies and local payouts in over 30 currencies.

The company says its full suite of global products, including multi-currency company and employee cards, spend management and online payment acceptance capabilities will be progressively rolled out in the market.

“Our entry into the New Zealand market is something our customers have been requesting for some time,” says Sam Kothari, Airwallex’s head of growth for ANZ.

“Businesses tell us they have been deterred from reaching their full potential in this market due to the complexity of making international payments or trading across borders. By providing local businesses with a single global financial platform, we aim to empower them to scale successfully, which is especially critical in this current economic environment.”

Airwallex customers can now open a global account in New Zealand dollars (NZD) in seconds. With this increased capability, businesses with operations in Australia and New Zealand can easily collect payments from their customers, pay their suppliers and staff in both countries, as well as convert NZD to AUD (and vice versa) at market-leading rates, driving increased business growth opportunities between both markets.

“Many of our Australian customers have expanded to New Zealand,” says Kothari.

“Ensuring that these Australian businesses now have an efficient and cost-effective way to streamline their financial operations between the two countries can help them with their growth plans in the ANZ region.”

Founded in 2015 in Melbourne, Airwallex says it is one of the fastest growing fintech companies and operatesa across Asia-Pacific, Europe and North America today with over 1,200 employees in 19 major locations globally. The launch in New Zealand further strengthens Airwallex’s footprint in the APAC region. It announced an expansion into Singapore and Malaysia early this year, in addition to its presence in Hong Kong.