Airwallex to Acquire Vietnam's CTIN Pay to Expand Payment Services

Airwallex, a global payment and financial platform for growing business, has signed definitive agreements to acquire CTIN pay, an Intermediary Payment Service (IPS) licensed company in Vietnam. The transaction will be finalized upon satisfaction of satisfaction of customary closing conditions.

This move strengthens the global reach of Airwallex’s financial infrastructure, securing its position in key market worldwide. The expansion strengthens Airwallex’s existing licenses across key Asia-Pacific (APAC) markets including Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan.  This move aids Vietnamese merchant facilitating international businesses to step into Vietnamese market.  With rapid digital transformation and economic growth, Vietnam is a well positioned market for Airwallex in the region.

“Airwallex’s entry into Vietnam is a key step in our strategy to build a truly global financial platform. The fastest growing economy and dynamic business landscape in Vietnam offer immense opportunities. By addressing financial challenges in these markets, we empower local businesses to expand beyond borders. We’re particularly excited about our progress and continues expansion in APAC, the region where Airwallex was born” said Arnold Chan, General Manager, APAC at Airwallex. 

Airwallex has appointed Ershad Ahamed as its head of Southeast Asia, to drive its expansion across Southeast Asia. Airwallex is strategically acquiring companies to expand its global footprint.  The recent acquisition in Vietnam follows the successful completion of its purchase of MaxPago, a Mexico based payment service provider.