Airwallex acquires Korea’s Paynuri to expand local payments capabilities

Arnold Chan, managing director of Airwallex Asia-Pacific

Global financial platform Airwallex Pty Ltd. has acquired South Korea’s Paynuri Co., which holds licenses for payment gateway (PG) services, prepaid electronic payment instruments, and foreign exchange business registration.

Airwallex announced on Thursday that it has acquired Paynuri as part of its efforts to strengthen the global expansion capabilities of Korean companies. The company plans to support businesses worldwide in operating more seamlessly in dynamic economic markets, including the Asia-Pacific region.

In particular, Airwallex will provide a range of services on a single platform, including multi-currency accounts that enable management of global banking, foreign exchange conversion, and international remittances.

It will also offer online and offline payments using cards and local payment methods and multi-currency corporate and employee cards for managing company expenses.

Following the acquisition, the first services to be prepared for launch in Korea are global business accounts and payment processing services. Additional services are expected to be rolled out sequentially within the year.

Arnold Chan, managing director of Airwallex Asia-Pacific, noted that it will support Korea’s rapidly growing e-commerce, creative, and entertainment companies so they can expand their businesses beyond national borders.