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Airwallex is about to take on Stripe and the rest of the payments industry — inthe physical world

Airwallex, an Australian fintech, is entering the in-person payments market to compete with Stripe, Square, and Adyen. Its new point-of-sale product allows businesses to accept payments in multiple countries via a single platform, reducing the complexity of managing local vendors. Airwallex, valued at $8 billion, has significant global infrastructure and aims to attract multinational clients dissatisfied with fragmented payments solutions.

Key points

  • Airwallex is launching a point-of-sale (POS) product targeting in-person payments, aiming to simplify the process for businesses operating across borders.
  • The new product allows for multiple country transactions without needing local acquirers, minimizing compliance and vendor management challenges.
  • CEO Jack Zhang opted not to sell Airwallex to Stripe for $1.2 billion in 2019, choosing instead to build the company’s infrastructure independently.
  • Airwallex claims $1.3 billion in annual revenue with an 85% growth rate, and serves over 46,000 U.S. businesses, processing $100 billion annually.
  • Unlike Stripe and Square, Airwallex has local banking licenses that enable it to hold and manage funds in different regions, enhancing its appeal.
  • The company plans to invest $1 billion in the U.S. by 2029, indicating a significant commitment to expanding its market presence.

Why it matters

  • The move taps into the growing trend of digital payment solutions catering to global markets as companies seek more efficient financial management.
  • Competition in the fintech space has intensified, especially after the pandemic accelerated digital transformation and e-commerce growth.
  • This development aligns with the 2025 IT trends focusing on integrated payment solutions and the need for businesses to manage multiple revenue streams seamlessly.

Airwallex's entry into the in-person payment sector represents a significant challenge to established players like Stripe and Square, potentially reshaping the payments landscape by offering more comprehensive solutions for businesses operating globally.