Shulou(Shulou.com)11/24 Report--

CTOnews.com March 7 news, after PayPal, another foreign company obtained China's third-party payment (Internet payment) license.

With the approval of relevant Chinese authorities, Airwallex, a global financial services platform, has completed the acquisition of 100% equity interest in Guangzhou Shangwutong Network Technology Co., Ltd.(hereinafter referred to as "Shangwutong"), a licensed payment institution. Through this acquisition, Airwallex obtained a payment business license in mainland China.

Airwallex can carry out third-party payment business in mainland China through the above-mentioned acquired entities, further broaden the scope of global financial services and improve compliance level and customer service level.

CTOnews.com inquired about public information and learned that Air Cloud Exchange was established in Melbourne in 2015, with an annual transaction scale of more than US $50 billion. After the acquisition, its global payment network covers more than 150 countries and regions such as Mainland China, China Hong Kong, Australia, new Zealand, the United States, Singapore and many European countries. Wu Kai, chief revenue officer and general manager of Asia Pacific, said today that the completion of the acquisition is expected to further deepen the localization operation. For the Chinese market, Air Cloud will focus more on services in the digital economy and value the future potential of small and medium-sized enterprises.

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