by Fintech Information Singapore
February 5, 2024
Airwallex, a worldwide funds and monetary platform, has shaped a multi-year collaboration with the McLaren System 1 group.
This partnership designates Airwallex as an Official Accomplice, the place it’ll bolster McLaren’s monetary actions worldwide by way of its treasury administration in addition to cross-border pay-outs and settlement product suite.
The collaboration will see McLaren utilising Airwallex’s providers to enhance its provide chain funds throughout the System 1 Grands Prix circuit.
Beforehand constrained to a single foreign money account primarily based within the UK, McLaren confronted challenges like excessive overseas change charges, gradual transaction occasions, and extra expenses.
Airwallex’s expertise will allow multi-currency fee choices for McLaren, streamlining transactions and lowering SWIFT charges by way of its international fee community.
Moreover, Airwallex will help the event and operation of McLaren’s digital accomplice merchandise platform, enhancing its multi-currency transaction capabilities and providing a wider array of fee strategies.
As a part of this partnership, Airwallex will achieve visibility by way of branding placements on the McLaren MCL38 automotive’s halo, in addition to on the racing fits of drivers Lando Norris and Oscar Piastri, together with the pit crew’s gear and different official McLaren supplies.
System 1 has a multi-market attain that rakes up a worldwide viewership of 1.5 billion yearly.
Zak Brown, CEO, McLaren Racing mentioned,
“Within the aggressive world of System 1, effectivity and efficiency are essential each on and off the observe.
We’re delighted to have Airwallex on board and use their progressive and trusted fee options to help our group’s monetary operations.”
Jack Zhang, CEO and Co-Founding father of Airwallex mentioned,
“There are only a few manufacturers that match McLaren’s heritage and international attraction. Like McLaren, Airwallex is consistently innovating to maneuver sooner and with larger precision – with a product that unites individuals world wide.
Our partnership will play a key function in supporting our international growth, and we stay up for working with the McLaren group in 2024 and past to help our mutual development.”