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Friday, 05 March 2021 10:10

Airwallex completes UniCard acquisition

By
Airwallex co-founder and CEO Jack Zhang Airwallex co-founder and CEO Jack Zhang

Melbourne based fintech Airwallex has completed its acquisition of Hong Kong prepaid card operator UniCard Solution.

Airwallex's acquisition of UniCard was completed after gaining the consent of the Hong Kong Monetary Authority.

Airwallex will continue to support UniCard’s prepaid cards, and plans to introduce products supporting multi-currency, cross-border transactions in the coming year.

"This is an exciting development for the Hong Kong market and Airwallex customers, and we are pleased to have received HKMA’s consent to be a shareholder controller of UniCard," said Airwallex co-founder and CEO Jack Zhang.

"Today's announcement signals our commitment to provide all businesses, large or small, with modern payment technology. Now more than ever, businesses need tools that can support their changing needs for faster and more effective solutions to manage cross-border expenses, global payments and other transaction needs.

"With the acquisition of UniCard, we hope to continue to innovate and empower businesses in Hong Kong and across Asia to grow without borders."

In the past year Airwallex has introduced a virtual multi-currency debit card with Visa, a bank feed integration with Xero, a rewards program, and payment acceptance capabilities.


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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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