Airwallex, a cross border payment company, announced that it has completed the acquisition of UniCard Solution Limited following the regulatory approvals from the Hong Kong Monetary Authority (HKMA) to become a shareholder controller.

Airwallex said that through its wholly owned subsidiary UniCard, it aims to launch various card payment products that will support multi-currency, cross-border transactions in a safe, convenient, compliant and cost-effective way in the coming year.

Airwallex will continue to support UniCard’s prepaid card product, while also providing Hong Kong businesses with access to new payment and collection solutions.

UniCard is a Hong Kong incorporated business and Stored Value Facilities (SVF) licensee under the Payment Systems and Stored Value Facilities Ordinance.

“This is an exciting development for the Hong Kong market and Airwallex customers, and we are pleased to have received HKMA’s consent to be a shareholder controller of UniCard.

 

Now more than ever, businesses need tools that can support their changing needs for faster and more effective solutions to manage cross-border expenses, global payments and other transaction needs. With the acquisition of UniCard, we hope to continue to innovate and empower businesses in Hong Kong and across Asia to grow without borders.”

said Jack Zhang, Co-Founder and CEO of Airwallex.

Featured image credit: Airwallex