Tencent-Backed Airwallex Acquires China License Via M&A Deal
- Airwallex cleared regulatory hurdles from Chinese regulators
- License lets Airwallex be online payment provider in China
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Payment platform startup Airwallex has acquired an online payment business license in China after completing a deal for information services and logistics firm Guangzhou Shang Wu Tong Network Technology Co.
The transaction has cleared all regulatory hurdles with Chinese authorities, according to a statement Tuesday. Shang Wu Tong has a license for online payment services in the world’s second largest economy, the statement shows.