Airwallex, a global payments platform valued at $8 billion, is launching a point-of-sale (POS) product designed to help businesses accept in-person payments across multiple countries through a single system, according to sources familiar with the matter. The move marks a significant expansion for the fintech firm, which has primarily focused on digital cross-border transactions until now.
The new POS solution will integrate with existing Airwallex accounts, allowing merchants to process card payments in physical stores while maintaining the same multi-currency capabilities the company offers online. Analysts say this positions Airwallex as a direct competitor to Stripe’s Terminal product and traditional payment processors like Square.
“This is a logical next step for Airwallex as they build out their financial infrastructure stack,” said a payments industry analyst who requested anonymity because the product hasn’t been officially announced. “The real differentiator is their global settlement network – being able to accept payments in one country and settle in another with minimal friction.”
Founded in 2015, Airwallex has raised over $900 million from investors including Tencent, Sequoia Capital China, and Lone Pine Capital. The company currently operates in over 50 countries and supports 150 currencies. Its valuation jumped to $5.5 billion in 2021 before reaching $8 billion in its most recent funding round.
Market observers suggest the POS launch could intensify competition in the payments sector, particularly for businesses with both online and physical storefronts. However, some caution that regulatory hurdles and local payment method preferences may slow adoption in certain markets.