Airwallex Malaysia is set to launch its full product suite as it expands its local payments and financial services offering. The new services will be rolled out in the coming weeks.
The rollout follows the company’s e-money issuing approval and Class A Money Service Business licence from Bank Negara Malaysia, enabling full local operations.
Airwallex’s Malaysia launch adds payment collection, cards and cross-border services for local businesses.
Airwallex estimates businesses using the platform could save about RM100 per international transaction through lower foreign exchange and transfer costs.
The company also projects that businesses could accelerate market entry by 2 to 3 times by opening local accounts and starting transactions within days rather than months.
Andrew Chim, Head of Southeast Asia Expansion at Airwallex, said,
“Since entering Malaysia, we’ve helped companies lower transaction costs significantly through our cross-border payments infrastructure.
Our full product suite will give Malaysian businesses the tools to scale internationally more efficiently, without the complexity of multiple providers. We’ve built this so founders can stop worrying about their financial operations and focus on their next market.”
Visa is also supporting Airwallex’s card offering in Malaysia.
Previn Pillay, Country Manager, Visa Malaysia, said,
“Through our partnership with Airwallex, we’re bringing the strength of Visa’s global payments network to support local businesses with cards that offer greater visibility and control over cross-border expenses.
By combining Airwallex’s financial platform with Visa’s secure and widely accepted card network, businesses can pay confidently, gain clearer oversight of their cash flows, and operate internationally with greater ease.”
Featured image: Edited by Fintech News Malaysia, based on image by Borin via Freepik
