Bolt and Airwallex collaborate on global payment system for drivers
Bolt, the global shared mobility platform, today announced a strategic partnership with leading global payments and financial platform, Airwallex, to build a new payments system for its drivers.
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The new product will initially focus on digital wallets, before scaling out additional financial services in the future. This will be delivered by leveraging Airwallex's innovative global financial infrastructure to streamline payments, reduce transaction costs, and improve the speed and efficiency of fund transfers.
These developments will support the millions of drivers and couriers using the Bolt platform to access good earnings opportunities in more than 50 countries, by automatically delivering payments in different currencies. These changes will be rolled out incrementally as part of a longer-term plan to embed financial services in the Bolt platform that enhance the driver experience.
The partnership is currently live in several markets around the world, and over time will include key geographies in the Americas, EMEA (Europe, Middle East & Africa) and APAC (Asia Pacific).
Jüri Laur, Director of Product at Bolt, said: 'More than 4.5 million driver and courier partners use the Bolt platform and we have a responsibility to ensure they have a high-quality experience when doing so. Issuing seamless, real-time payments, which means they are paid accurately and on time, is a key part of this. Airwallex's global payment infrastructure is the perfect fit to help us optimise our financial operations and continue delivering best-in-class services to our users.'
'Our mission at Airwallex is to empower businesses with a modern financial infrastructure that simplifies global finance,' said Kai Wu, Chief Revenue Officer at Airwallex. 'We are excited to support Bolt in its expansion by providing a scalable, cost-effective, and reliable solution that meets the needs of its global driver and courier community, and its merchants.'
The partnership marks a significant milestone for both companies as they continue to drive innovation in the global payments and mobility sectors. As Bolt scales its services across new and existing markets, Airwallex's financial technology will play a critical role in facilitating frictionless payments, ensuring Bolt remains at the forefront of the industry.
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