Airwallex & Yuno Partner to Simplify Global Payments
Hey Payments Fanatic!
Payments don’t stop at borders, and neither should businesses.
That’s the idea behind the partnership between Airwallex and Yuno, two companies working to reshape the way global transactions move. By teaming up, they’re making cross-border payments even more seamless, helping businesses scale with less friction.
Airwallex, a global payments orchestrator, connects over 1,000 payment methods across 195+ countries, serving more than 150,000 companies, including Brex, Rippling, and SHEIN.
It recently expanded into New Zealand and earned a top-three spot in Fast Company’s Finance and Personal Finance category for 2025. This partnership further strengthens its ability to support enterprises with scalable, efficient cross-border solutions.
Yuno, founded in 2022, provides a single API that gives businesses access to a vast network of payment options across 80+ countries. Last month, it announced its expansion into the Middle East, setting up a regional HQ in Qatar.
Through this collaboration, Yuno enhances its financial service capabilities, offering businesses greater flexibility in managing payments worldwide. According to Chee (SheueChee) Beh, SVP, Head of APAC at Yuno, “With Airwallex’s infrastructure, we’re able to offer more robust financial solutions that meet the evolving needs of businesses worldwide.”
Meanwhile, Arnold Chan, Airwallex's General Manager for APAC, stated that partnering with Yuno will be “empowering businesses with faster, more flexible financial solutions – helping them scale effortlessly across borders.”
Read more global Payments industry updates below 👇 and I'll be back on Monday!
Cheers,
INSIGHTS
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GOLDEN NUGGET
Below is a snapshot of the 𝗳𝘂𝗹𝗹 𝘀𝘁𝗮𝗰𝗸 𝗨𝗣𝗜 𝗽𝗹𝗮𝘆 👇
Here is the value chain explained in 9-steps:
1️⃣ Merchant PA: The customer comes here and initiates the UPI transaction
2️⃣ The PA launches the UPI App selected
3️⃣ The UPI App: The customer enters their details (PIN, and validates transaction amount), which is forwarded to the Payer PSP Bank
4️⃣ Payer PSP Bank: This is how the transaction is sent to NPCI. Only banks can directly connect to NPCI, so every UPI App has a Payer PSP Bank (with a switch deployed within the bank infra) that connects with NPCI.
This Switch also validates the PIN, and checks the customer account balance, and then forwards all details to NPCI (UPI Rails) along with payee details, txn amount and so on
5️⃣ NPCI: Sends the details to the Payee PSP Bank to resolve the address. In this case, if the transaction has been initiated through a PA, then the Payee PSP Bank is the PA’s acquiring switch.
The merchant has already been onboarded on this, so the Payee PSP then resolves the merchant's VPA and shares account details back with NPCI.
6️⃣ NPCI then sends a debit request to the remitter bank (which is the customer’s bank). This hits the issuing switch
7️⃣ The issuing switch conducts checks, and sends the debit request to the Beneficiary Bank, the bank confirms the debit to NPCI The issuing switch is the piece of infra that is deployed with the remitter (the customer who is sending the money - bank), and the beneficiary (the receiver, in this case, it is the PA PSP Bank).
8️⃣ The debit confirmation comes back from the remitter bank, and a credit request is sent to the beneficiary bank (which is the PA’s bank).
The beneficiary bank confirms the credit status to NPCI
9️⃣ NPCI confirms the transaction success to the Payer PSP, which confirms to the UPI App. The Payer PSP confirms to the PA, which confirms to the merchant.
I highly recommend reading the complete deep dive article for more info on this topic.
Source: Ambika Pande
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