In this segment from Money20/20, Scarlett Sieber breaks down how one of the fastest-growing fintech infrastructure companies actually makes money. Airwallex is building a platform designed to make global finance feel simple, fast, and seamless. The company provides financial infrastructure that allows businesses from startups to large multinational corporations to move money across borders without dealing with the usual complexity of international banking. Behind the scenes, Airwallex offers tools like multi-currency accounts, foreign exchange services, payment acceptance, card issuing, and treasury management, all connected through a single API to help businesses manage global operations more efficiently.
Airwallex generates revenue through several core channels. One of its main drivers is foreign exchange and cross-border spreads, where the company captures a margin each time money is converted between currencies. It also earns processing fees when merchants accept payments across cards, digital wallets, and local payment methods. Additional revenue comes from multi-currency wallets and treasury services, which include movement fees, float income, and premium financial tools for businesses managing global cash flow. The company also participates in card issuing, earning interchange revenue when cards are used, along with fees charged to businesses that embed those cards into their platforms. Finally, Airwallex offers enterprise APIs that allow companies to integrate payments, payouts, and embedded fintech services into their own products on a volume-based pricing model.