Airwallex expands into physical payments

Australian fintech Airwallex is launching a point-of-sale product to compete in the in-person payments market, challenging rivals like Stripe, Square, and Adyen. The new offering allows businesses to accept payments in multiple countries through a single platform without needing local vendors in each market, leveraging Airwallex's extensive global payment infrastructure and licenses. This move represents a significant expansion for the company, which previously focused on online and cross-border transactions. Airwallex aims to attract multinational businesses frustrated with managing fragmented payment systems across different countries, betting its unified global infrastructure will be a key differentiator.