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Australia's Airwallex secures online payment licence in China

Airwallex, an Australia-based global payments and financial platform, has announced it has already secured a payment business licence in China. This follows the company's successful acquisition of a 100% stake in Guangzhou Shang Wu Tong Network Technology Co., Ltd., a Chinese information and online payment services company. In a statement, Airwallex said that Shang Wu Tong Network Technology has a licence for online payment services already. The acquisition of the company received approval and endorsement from all relevant China regulatory authorities, Airwallex said. The support the company has been getting from Chinese regulators is an added boost to Airwallex’s existing licences across major markets around the world, including Australia, the European single market, Hong Kong, New Zealand, Singapore, the UK, and the US.


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