KUALA LUMPUR (April 14): Global fintech platform Airwallex unveiled its full suite of financial products in Malaysia on Tuesday, following its successful acquisition of regulatory approvals from Bank Negara Malaysia.

The expansion allows local businesses to access the platform’s complete range of capabilities, including payment collection, multi-currency wallets, competitive foreign exchange (FX) rates and cross-border payouts. These services are set to be rolled out over the coming weeks.

Airwallex’s move into the Malaysian market comes as the company secures both an e-money issuing approval and a Class A Money Service Business license, enabling full local operations.

With these licences and approvals, the company aims to position itself as an AI-native financial engine for businesses looking to scale internationally without the traditional friction of cross-border finance.

“For too long, Malaysian businesses have been held back by a fragmented financial system that was not built for the digital age. By bringing our full suite to Malaysia, we’re removing the 'border tax' on ambition,” said Arnold Chan, general manager for Asia-Pacific at Airwallex.

Speaking at the Airwallex’s launch, Malaysia Digital Economy Corporation (MDEC) senior vice-president of industry and ecosystem Gopi Ganesalingam said many Malaysian businesses, especially in the e-commerce and digital sectors, are increasingly looking beyond borders towards global markets, however, their growth is often constrained by fragmented financial systems, multiple service providers and inefficiencies in cross-border transactions.

With Airwallex offering an integrated financial ecosystem, from payments to FX multi-currency accounts, it enables businesses to scale faster, reduce costs and compete more effectively on the global stage.

“This vision strongly aligns with our national agenda under Malaysia Digital. We at MDEC are committed to build a robust, future-ready digital and fintech ecosystem, one that supports innovation in fintech, enhances ease of doing business, and positions Malaysia as a gateway for regional and global commerce.”

“This includes offering competitive digital incentives to attract and grow fintech innovators, as well as providing end-to-end facilitation. We see fintech not just as a sector, but as a key enabler for powering SMEs, powering startups, powering enterprises, all to participate more actively in the global digital economy.”

Airwallex utilises a usage-based pricing model designed to undercut traditional banking fees. According to Airwallex’s website, for global transfers, the platform offers free local transfer methods, whereas SWIFT transfers incur a flat fee ranging from RM30 to RM90, depending on the method.

Domestic card payments via Visa, Mastercard, and American Express are priced at 1.90% + RM0.50, while international cards incur an additional 1% fee. Local e-wallets and methods like GrabPay and WeChat Pay start from 1.4% + RM0.50 per transaction.

The platform also has a recurring subscription management fee of 0.5% per successful card transaction, applied to application programming interfaces (APIs) only.

Consolidating financial workflows onto a single platform can yield significant operational gains. At a press briefing, Andrew Chim, Airwallex’s head of Southeast Asia expansion, said that businesses could potentially save approximately RM100 per international transaction by reducing FX and transfer costs.

He added that the platform can accelerate market entry by two to three times, allowing companies to open local accounts and begin transacting within days, and noted that the full product suite is designed to eliminate the complexity of managing multiple providers.

“We’ve built this so founders can stop worrying about their financial operations and focus on their next market,” he said, adding that Airwallex Malaysia processed over RM2 billion on remittance transaction volume in 2025 and is anticipating a “few hundred percent growth” this year.

Airwallex Malaysia’s team grew by 66% last year and the company also recently expanded into a new office with capacity for over 160 employees. The company also plans to double the headcount throughout 2026. 

The launch arrives at a critical juncture for Malaysia’s digital economy as digital exports reached RM2.6 billion in the first half of 2025, with approximately 350 companies expanding into 39 global markets, according to MDEC.

Founded in Melbourne in 2015 and co-headquartered in Singapore and San Francisco, Airwallex currently holds 80 licences globally and serves over 200,000 companies.