Airwallex Plans US & UK Banking Licences Ahead of IPO
Hey Payments Fanatic!
Airwallex is preparing to apply for a UK banking licence — with plans to pursue a US licence next, likely through the acquisition of a local bank. This signals an expansion beyond its core in payments, as the company looks to enter the lending space and operate on the same playing field as global banks.
Until now, Airwallex has built its business through payment licences, helping companies move money across borders and manage international operations. Securing banking licences would unlock new products — including credit — and take Airwallex a step closer to offering a full suite of financial services to its global clients.
Founded in 2015, the $5.6 billion FinTech offers banking and multicurrency payment services to businesses around the world, including high-profile clients like McLaren. Its platform helps companies manage staff payroll, supplier payments, and foreign exchange in multiple currencies.
“We are planning to apply for a UK banking licence, the UK is one of the most friendly markets for FinTechs ... the [FCA] is still one of the best regulators,” Co-Founder & CEO Jack Zhang told the Financial Times.
Looking further ahead, Airwallex has its sights set on a US banking licence — but expects the route there to be different. “Ultimately in a decade I think we’re going to displace some of the global banks,” said Zhang.
As for the next step on its corporate journey, the FinTech is steering firmly towards a US listing, where Zhang sees unmatched market conditions: “The US market is still the most liquid capital market and most accessible capital market in the world.”
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GOLDEN NUGGET
𝐓𝐡𝐞 𝐄𝐯𝐨𝐥𝐮𝐭𝐢𝐨𝐧 𝐨𝐟 𝐭𝐡𝐞 𝐎𝐧𝐞-𝐂𝐥𝐢𝐜𝐤 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 — it's all about the 𝐔𝐬𝐞𝐫 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 by DEUNA👇
𝐓𝐡𝐞 𝐏𝐨𝐰𝐞𝐫 𝐨𝐟 𝐚 𝐔𝐬𝐞𝐫 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐭𝐨 𝐎𝐩𝐭𝐢𝐦𝐢𝐳𝐞 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭
► One-Click Checkout has evolved beyond a UX feature — it's now a networked infrastructure that recognizes users across different merchants, enabling them to complete purchases in seconds.
► When millions of users are already verified, and their credentials securely stored, checkout becomes nearly invisible. The value of this shared network is exponential: each new user improves conversion for every merchant connected to the ecosystem.
𝐓𝐡𝐞 𝐑𝐨𝐥𝐞 𝐨𝐟 𝐓𝐨𝐤𝐞𝐧𝐢𝐳𝐚𝐭𝐢𝐨𝐧 & 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐔𝐩𝐝𝐚𝐭𝐞𝐫𝐬
✅ 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 𝐓𝐨𝐤𝐞𝐧𝐬 replaces sensitive card numbers with tokens issued by the card networks (e.g. Visa, Mastercard). These tokens are merchant-specific, device-aware, and more secure than raw PAN data.
► As a result, transactions are less likely to be declined and more resilient to fraud.
✅ 𝐀𝐜𝐜𝐨𝐮𝐧𝐭 𝐔𝐩𝐝𝐚𝐭𝐞𝐫 services automatically refresh expired or reissued cards without user intervention via network services directly corresponding with the Issuing Banks.
► This keeps the One-Click experience smooth and uninterrupted — even when card credentials change in the background.
Together, these tools increase approval rates, reduce friction, and maintain continuity.
𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 𝐯𝐬. 𝐎𝐧𝐞-𝐂𝐥𝐢𝐜𝐤 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭
𝐑𝐞𝐠𝐮𝐥𝐚𝐫 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭:
❌ Manual entry of shipping and payment info
❌ Authentication for every purchase
❌ Prone to errors and drop-offs
❌ Cards expire → Transactions fail
𝐎𝐧𝐞-𝐂𝐥𝐢𝐜𝐤 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭:
✅ User credentials already tokenized and authenticated
✅ Seamless checkout across merchants using the same network
✅ Higher card approval rates with network tokens
✅ Cards are auto-updated in the background
𝐁𝐞𝐧𝐞𝐟𝐢𝐭𝐬 𝐄𝐧𝐡𝐚𝐧𝐜𝐞𝐝 𝐛𝐲 𝐓𝐨𝐤𝐞𝐧𝐬 & 𝐄𝐱𝐭𝐞𝐧𝐬𝐢𝐯𝐞 𝐔𝐬𝐞𝐫 𝐍𝐞𝐭𝐰𝐨𝐫𝐤 👇
✔️ 𝐒𝐭𝐫𝐨𝐧𝐠𝐞𝐫 𝐒𝐞𝐜𝐮𝐫𝐢𝐭𝐲 – Tokenized data is useless if intercepted, reducing fraud risks.
✔️ 𝐇𝐢𝐠𝐡𝐞𝐫 𝐀𝐮𝐭𝐡𝐨𝐫𝐢𝐳𝐚𝐭𝐢𝐨𝐧 𝐑𝐚𝐭𝐞𝐬 – Network tokens are more trusted by issuers than static card numbers.
✔️ 𝐏𝐞𝐫𝐬𝐢𝐬𝐭𝐞𝐧𝐭 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 𝐄𝐱𝐩𝐞𝐫𝐢𝐞𝐧𝐜𝐞 – Account updater ensures no friction.
✔️ 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐜𝐚𝐥𝐚𝐛𝐢𝐥𝐢𝐭𝐲 – Shared networks reduce onboarding friction for new merchants and users alike.
𝐓𝐡𝐞 𝐄𝐧𝐝 𝐨𝐟 𝐭𝐡𝐞 𝐎𝐧𝐞-𝐂𝐥𝐢𝐜𝐤 𝐂𝐡𝐞𝐜𝐤𝐨𝐮𝐭 𝐒𝐞𝐫𝐢𝐞𝐬 (3/3)
One-Click Checkout is no longer a standalone tool — it’s an integrated layer across identity, security, and payments.
With advancements in tokenization and networked authentication the checkout process can now be instant, trusted, and invisible.
Source: DEUNA
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