Airwallex, a provider of payments and financial platforms, has formalised agreements to acquire CTIN Pay, a licensed intermediary payment service provider in Vietnam.
This transaction is awaiting customary closing conditions and marks a significant step in Airwallex’s expansion strategy within Southeast Asia.
The financial terms of the deal were not disclosed.
The acquisition broadens Airwallex’s licensing portfolio across major markets in the Asia-Pacific region, including territories such as Australia, Singapore, Hong Kong, Malaysia, New Zealand, mainland China, and Japan.
It is set to enhance Airwallex’s financial infrastructure capabilities, aiding Vietnamese merchants in expanding internationally while assisting foreign enterprises entering Vietnam.
According to Airwallex, Vietnam is experiencing strong economic growth and rapid digital transformation, making it an attractive market for the firm’s regional growth plans. The expansion of financial infrastructure in Southeast Asia by Airwallex aims to facilitate the international scaling of Vietnamese businesses.
Airwallex APAC general manager Arnold Chan said: “Airwallex’s entry into Vietnam is a key step in our strategy to build a truly global financial platform. The fast-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.”
In a related move, Airwallex has appointed Ershad Ahamed as head of Southeast Asia operations. Based in Singapore, Ahamed has accumulated experience from high-growth technology firms, having previously held senior positions at Grab and leadership roles at Rakuten and Procter & Gamble.
Ahamed said: “Airwallex’s mission to empower businesses with seamless financial solutions resonates deeply with me. Southeast Asia is a dynamic and diverse market, and I look forward to driving Airwallex’s growth in the region.
“What excites me most is enabling businesses here to unlock international growth opportunities with confidence by harnessing our robust financial infrastructure.”
The acquisition of CTIN Pay follows Airwallex’s recent purchase of MexPago, a Mexican payment service provider with an Institution of Electronic Payment Funds licence. These acquisitions are part of Airwallex’s broader global strategy to build a robust financial foundation for businesses worldwide.
Airwallex was established in Melbourne in 2015 and is now headquartered in Singapore. The company has seen substantial growth across the Asia-Pacific region and recently launched operations in New Zealand.
Globally, Airwallex has achieved over $600m in annualised revenue and $130bn in annual transaction volume, underscoring the increasing demand for its cross-border payment solutions.
In January 2025, Airwallex announced it had secured a payment institution licence from Banco Central do Brasil. This development along with the MexPago acquisition link Airwallex’s global financial network with Latin America’s two largest economies, facilitating support for companies in Brazil and Mexico while aiding international business entry into these regions.
