The deal, which is subject to regulatory approvals, marks a major push from Airwallex into Latin America.
Global fintech giant Airwallex on Thursday said it has agreed to acquire MexPago, a rival payments company based out of Mexico, for an undisclosed sum to help the firm expand its Latin America footprint.
The deal, which is subject to regulatory approvals and customary closing conditions, marks a major push from Airwallex into Latin America, a market that has become more attractive for fintech firms thanks to a primarily younger population and increasing online penetration.
We can take a global company to Mexico and also help the global companies making payments to the supply chain."
"Mexico is one of the largest populations in Latin America," Zhang added.
Persons:
pocketing, Jack Zhang, Zhang, it's
Organizations:
America, Global, PayPal, U.S, CNBC, U.S . Labour
Locations:
Mexico, America, China, United States, U.S, Washington, Latin America, Asia