In a world where we expect businesses to service international customers easily, having the right infrastructure for cross-border payments is crucial.
That’s why we’re excited to invest in Airwallex, a Melbourne-based team who are helping businesses make better international payments at scale.
The problem: International payments are a mess
Let’s say you’re an Australian tourist travelling in Southeast Asia and need to pay for a local tourist guide through an online travel platform.
The online travel platform guarantees you an international transfer rate on the purchase so that you can pay with your Australian bank account or credit card. But, the merchant wants to receive Indonesian Rupiah.
Here’s what normally happens...
Read the full post and investment notes on Medium.