Airwallex, a global financial services platform, has completed the acquisition of 100% of the shares of licensed payment institution Guangzhou Shangmu Tong Network Technology Co. Airwallex is licensed to conduct payments in Mainland China.

Through the acquisition, Airwallex will be able to conduct third-party payment business in mainland China, further expand the scope of global financial services, and improve compliance and customer service.

Airwallex was established in Melbourne in 2015, with an annual transaction scale of more than $50 billion. After completing this acquisition, its global payment network covers more than 150 countries and regions, including mainland China, Hong Kong, Australia, New Zealand, the United States, Singapore, and many European countries. The completion of the acquisition is expected to further deepen local operations, and for the Chinese market, AirCloudHub is focusing more on services in the digital economy and the future potential of small and medium-sized enterprises, said Kai Wu, chief revenue officer and general manager of AirCloudHub Asia Pacific, today.

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