Airwallex is enabling payment corridors between 149 countries for clients of the Lithuanian fintech Paysera as part of a newly-formed agreement.
The agreement will see the fintech leveraging the payment and banking infrastructures within the Airwallex platform across its financial and lifestyle-related services.
As the first licensed e-money institution (EMI) in Lithuania, Paysera’s services include a payment gateway for e-shops, money transfers, currency conversion, payment cards, an event ticketing platform, a financial management app and a to-be-launched parcel locker network.
The fintech’s latest agreement with the Australian Airwallex platform will allow its clients to accept payments and move money between 149 countries worldwide; Airwallex currently conducts its services in the markets of Asia-Pacific (APAC), Europe and North America.
The agreement will also enable the fintech’s clients to create international bank account numbers (IBANs) in nine countries.
The Melbourne-headquartered platform describes its purpose as ‘to connect entrepreneurs, business builders, makers and creators with opportunities in every corner of the world’.
Speaking on the agreement, Paysera Group’s vice president, Bashkim Zeqiri, explains how it will “enable us to provide additional services and options for our clients when it comes to international transfers.”
“Paysera, together with all of its partners, will now provide even more efficient services and demonstrate a positive example in the international fintech industry,” he continues.
With over one million app installs and growing, Paysera hopes that its latest agreement with Airwallex will assist in its pursuit of becoming the go-to super app for financial and lifestyle services.
Prior to its coming together with Airwallex, the fintech formed a similar partnership with Globus Bank in June, enabling local residents in war-torn Ukraine to collect cash from online transfers at one of the bank’s 150 branches.
Only about 40 per cent of Ukrainians have access to a bank account, which makes the process of digital transfers all the more difficult.
Transfers from Europe can take up to two business days to process and can incur fees of up to €20.
To overcome these challenges, Paysera came together with the bank to allow euros to be sent to the bank’s branches, with the amount being transferred into hryvnia on the day of collection.