Airwallex and Shopify formally announced a global strategic cooperation agreement, becoming the official global payment service provider. The two parties will achieve a seamless connection between cross-border e-commerce and cross-border payment.
According to Ebang Dynamics, since its establishment in Australia in 2015, Airwallex has been recognized by top domestic and foreign investment institutions such as Tencent, Sequoia Capital, and DST Global, and completed the Series C financing in March this year, with a valuation of more than US$1 billion. . At present, it has established 8 offices around the world, and its business scope covers more than 130 countries and regions. Its business includes global collection, currency exchange, international payment, etc., focusing on seven areas of cross-border e-commerce, logistics, online travel, education and study abroad, financial institutions, digital marketing, and online entertainment.
According to Airwallex, the Airwallex platform is connected to the local payment systems of various countries, and real-name multi-currency accounts manage global collections in a unified manner. The global payment network can achieve fast and full payment receipts. Airwallex's characteristic business currency exchange can connect to the international foreign exchange market in real-time, obtain global real-time quotations, and provide customers with 7x24 hours of foreign exchange trading services. In addition, all customers can enjoy the lock-up service to avoid foreign exchange risks.
As a stable and iteratively upgraded ecological platform, Shopify integrates cloud site building, design, management, applications, tools, multi-channel sales, and other functions and technologies. It serves more than 800,000 small and medium-sized merchants and large-scale retailers in about 175 countries. Trading companies and world-renowned brands provide cross-border e-commerce site building services. Since its inception in 2006, the cumulative transaction volume of the platform has exceeded 100 billion U.S. dollars.
It is reported that in recent years, the Shopify e-commerce SaaS ecological platform has become more internationalized, and a variety of optimization and upgrades have been made to payment gateways and in-store management, which can provide Chinese merchants with more channels for brands to go overseas. The Shopify platform provides numerous templates and applications to enrich the content of merchants' websites, and has powerful machine learning algorithms that enable merchants to better analyze and meet customer needs.
Airwallex CFO Wu Kai said, “In this global strategic cooperation with Shopify, the two parties will jointly build a cross-border digital business ecosystem and fully empower the growth of global cross-border merchants. Airwallex will provide Shopify global merchants with cross-border payments covering the world. Services to help them seize the opportunity in global cross-border trade."
In this cooperation, Airwallex and Shopify will work together to bring some preferential activities to cross-border merchants, including Shopify's green channel for opening stores, the maximum two-month cash rebate for shop fees, and Airwallex cross-border cash withdrawal fee Rate privilege. In the next few months, the two parties will join many outstanding representatives of the cross-border e-commerce industry to enter Guangzhou, Fuzhou, Tianjin, Yiwu, and other important cross-border e-commerce towns to help Chinese businesses expand cross-border trade.
【Source text: by report】
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