As U.S.-China tensions rumble on, fintech unicorn Airwallex pushes into Latin America with Mexico deal
Publishing timestamp: 2023-10-19 13:08:28
Summary
Airwallex, a global fintech giant, has acquired MexPago, a rival payments company based in Mexico, to expand its presence in Latin America. The deal will allow Airwallex to tap into the growing fintech market in the region, which is attractive due to its young population and increasing online penetration. The acquisition will also help Airwallex navigate the geopolitical and economic uncertainty between the US and China. MexPago offers similar services to Airwallex, but also provides additional payment methods. The deal is subject to regulatory approvals and marks a major push for Airwallex into the Latin American market.
Sentiment: POSITIVE
Keywords: world economy, technology, banks, economy, breaking news: technology, paypal holdings inc, venture capital, breaking news: economy, block inc, markets, business news, breaking news: markets, internet,
Source: https://www.cnbc.com/2023/10/19/fintech-firm-airwallex-buys-mexpago-to-expand-in-latin-america.html