Airwallex teams up with Woo

Airwallex has partnered with Woo, becoming the official payment extension for Woo's 3.5 million stores. This collaboration enables Woo's merchants to accept cross-border payments swiftly through various channels. The initiative aims to eliminate inefficiencies, reduce fees, and expedite transactions, enhancing the overall shopping experience. 

Accrding to Web Griebel, Woo's Head of Payment Partnerships, the integration allows merchants to instantly accept global payments, facilitating international expansion plans. Pranav Sood, Airwallex's EMEA Executive GM, highlighted challenges faced by international merchants, including outdated payment infrastructure and additional cost pressures, such as transactional and operational costs. Sood also noted difficulties related to like-for-like settlements and online conversion rates, emphasising the impact of unexpected fees on cart abandonment.