Global fintech company Airwallex is moving beyond online transactions and into physical payments, signaling a direct challenge to industry leader Stripe. The company is preparing to launch a new point-of-sale (POS) system that enables businesses to accept in-person payments across multiple countries.
The move marks a significant expansion for Airwallex, which has primarily focused on cross-border digital payments and financial infrastructure. By entering the physical payments space, the company is targeting one of the last major areas still dominated by established players like Stripe and Square.
The startup proudly holds nearly 90 regulatory licenses across about 50 markets, has direct ties to local payment networks in over 120 countries, and can settle transactions in more than 90 currencies.
“When a business expands into a new market, they typically have to onboard a new local acquirer, navigate fragmented compliance, and manage yet another set of vendor relationships,” CEO and co-founder Jack Zhang said.
According to Zhang, this is the very infrastructure that Stripe and Square are missing in significant ways, especially the local banking licenses that enable funds to be held, converted, and utilized within a specific market instead of being immediately sent back.
Airwallex’s new system is designed to allow merchants to accept payments globally through a unified platform. This includes support for multiple currencies and local payment methods, which could simplify operations for businesses operating across different markets.
The company, reportedly valued at around $8 billion, has been steadily expanding its services to compete more directly with larger fintech firms. Its infrastructure already includes multi-currency accounts, international transfers, and payment processing tools tailored for global businesses.
Airwallex’s strengths lie in its global reach and cross-border capabilities. The platform supports a wide range of local payment methods and currencies, making it particularly attractive for businesses operating internationally. However, entering the physical payments market will require competing with established infrastructure providers such as Stripe, which already has a strong merchant networks and hardware ecosystems.
The startup is expected to roll out its physical payment solutions gradually, as it positions itself to compete more directly with established players across the global payments ecosystem.

