Airwallex enters physical retail with global point-of-sale system aiming to simplify cross-border payments for businesses, directly challenging Stripe and Square.
The company’s leader, Jack Zhang, says that when businesses grow into new countries, they usually have to work with different companies in each place. Airwallex can handle all of this in one place. This saves time and money for companies that work in many countries.
Airwallex already works in more than 120 countries. It has special permissions called licenses in 50 markets. These licenses let the company keep money flowing smoothly between banks in many countries. Other companies like Stripe and Square do not have as many of these important licenses.
The POS system connects store sales with online sales in one system. It has tools to show businesses all their sales together. It also works with the systems businesses use to manage their operations. This helps companies run better across different places worldwide.