Airwallex Signs Agreement to Acquire Vietnamese Payment Company for APAC Expansion
Airwallex, a leading global payments and financial platform designed to support growing businesses, has recently taken a significant step toward expanding its presence in Southeast Asia. The company has signed definitive agreements to acquire CTIN Pay, a licensed Intermediary Payment Service (IPS) provider in Vietnam. This acquisition, however, is still subject to the satisfaction of standard regulatory and closing conditions before it becomes final.
This strategic move strengthens Airwallex’s position in the Asia-Pacific (APAC) region by adding Vietnam to its extensive portfolio of financial licenses. The company already holds licenses across several key APAC markets, including Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan. By acquiring CTIN Pay, Airwallex significantly enhances its ability to support Vietnamese businesses looking to expand internationally, while also providing foreign companies with a seamless way to enter the Vietnamese market.
Vietnam’s economy is one of the fastest-growing in Southeast Asia, driven by rapid digital transformation, a burgeoning middle class, and a dynamic entrepreneurial ecosystem. These factors make the country an attractive strategic market for global financial service providers like Airwallex. With this expansion, Airwallex aims to strengthen its financial infrastructure in Southeast Asia, enabling businesses in Vietnam to scale internationally with greater ease.
Expanding Financial Infrastructure to Support Growth
The expansion of Airwallex into Vietnam is a crucial part of its broader strategy to build a truly global financial platform. Vietnam’s business environment, characterized by high growth and a strong digital economy, presents tremendous opportunities for companies looking to streamline international transactions and payments. With the growing demand for digital financial solutions, Airwallex is positioning itself as a key player in addressing the financial challenges faced by businesses operating in Vietnam.
Arnold Chan, General Manager of APAC at Airwallex, emphasized the importance of the company’s expansion into Vietnam. entry into Vietnam is a key step in our strategy to build a truly global financial platform. The fast-growing economy and dynamic business landscape in Vietnam offer immense opportunities. By addressing financial challenges in these markets, we empower local businesses to expand beyond borders. We’re particularly excited about our progress and continued expansion in APAC, the region where Airwallex was born.”
Airwallex has already established itself as a trusted financial partner for businesses across APAC, and this latest acquisition underscores its commitment to providing comprehensive financial solutions that facilitate cross-border transactions. By integrating CTIN Pay’s IPS license into its financial infrastructure, Airwallex is well-positioned to offer seamless, efficient, and cost-effective payment solutions to businesses operating in Vietnam.
Leadership and Strategic Growth in Southeast Asia
To accelerate its expansion across Southeast Asia, Airwallex has appointed Ershad Ahamed as its new Head of Southeast Asia. Ahamed, who is based in Singapore, brings extensive experience in high-growth technology and financial services. He has a proven track record of driving growth and profitability in the region, having previously held senior management roles at leading tech and financial companies.
Most recently, Ahamed served as Chief Commercial Officer at GrabFin Indonesia and was also the Regional Head of Payments Acquiring at Grab. In these roles, he played a critical part in developing and expanding Grab’s payments and lending business. Before joining Grab, he held leadership positions in growth, marketing, and go-to-market strategies at Rakuten and Procter & Gamble, further demonstrating his deep expertise in the industry.
Ahamed expressed his enthusiasm for his new role at Airwallex, highlighting the company’s mission and vision for the region. mission to empower businesses with seamless financial solutions resonates deeply with me. Southeast Asia is a dynamic and diverse market, and I look forward to driving growth in the region. What excites me most is enabling businesses here to unlock international growth opportunities with confidence by harnessing our robust financial infrastructure.”
With Ahamed at the helm, Airwallex is poised to strengthen its operations across Southeast Asia, ensuring that businesses in the region have access to the financial tools they need to thrive in the global market. His appointment reflects the company’s commitment to accelerating its expansion and cementing its position as a leader in digital financial services.
Strengthening Global Presence Through Strategic Acquisitions
Airwallex has been actively pursuing acquisitions as part of its broader growth strategy. By strategically acquiring companies that align with its mission, the company continues to build a robust financial foundation that supports businesses worldwide. The acquisition of CTIN Pay in Vietnam follows the successful completion of Airwallex’s purchase of MexPago, a Mexico-based payment service provider that holds an Institution of Electronic Payment Funds (IFPE) license.
These acquisitions demonstrate Airwallex’s commitment to expanding its global footprint while ensuring that businesses in different regions have access to innovative financial solutions. By leveraging its extensive experience in digital payments and financial technology, Airwallex is driving greater efficiency and transparency in cross-border transactions, ultimately benefiting businesses of all sizes.
Airwallex’s Continued Global Growth
Since its founding in Melbourne in 2015, Airwallex has experienced remarkable growth, evolving into a leading global financial technology company. The company is now headquartered in Singapore and has expanded its presence across multiple APAC markets. In recent years, Airwallex has consistently strengthened its position in the region, further solidified by its recent official launch in New Zealand.
Globally, Airwallex has achieved impressive financial milestones, surpassing US$600 million in annualized revenue and processing over US$130 billion in annualized transaction volume. These figures are a testament to the growing demand for cross-border payment solutions and its ability to provide businesses with a seamless, secure, and efficient financial infrastructure.
Airwallex’s expansion into Vietnam represents another major milestone in its journey to becoming a global financial powerhouse. By integrating its innovative financial technology with Vietnam’s rapidly growing digital economy, is poised to play a crucial role in shaping the future of financial services in the region.
What’s Next for Airwallex?
Airwallex remains focused on its mission to empower businesses with best-in-class financial solutions that facilitate international trade and expansion. The company’s strategic acquisitions, continued investments in technology, and expansion into key markets underscore its long-term vision of building a borderless financial ecosystem.
As digital transformation accelerates across Southeast Asia, is well-positioned to lead the charge in providing businesses with cutting-edge financial tools that drive efficiency and growth. With a strong leadership team, a clear growth strategy, and a commitment to innovation, Airwallex is set to redefine the future of digital payments and financial services.
For businesses in Vietnam and beyond, the acquisition of CTIN Pay represents an exciting opportunity to leverage world-class financial infrastructure and tap into new markets with confidence. As continues to expand its reach and enhance its offerings, it remains at the forefront of enabling businesses to succeed in an increasingly interconnected global economy.
