Airwallex, a payment and subscription management platform, has agreed to acquire Mexico-based MexPago, a point-of-sale solution and cross-border payment platform, for an undisclosed amount.

Through this acquisition, Airwallex intends to leverage MexPago’s business and operational presence in Mexico to enter the Mexican market and expand its product reach geographically. 

This expansion also reportedly provides a hedge for the company amidst geopolitical and economic uncertainty between the US and China, as Mexico can act as a hub for trade between the two countries.