Circles has partnered with Airwallex to enable telecom operators to launch digital banking services across more than 70 countries through its CirclesX platform.
The partnership will integrate Airwallex’s embedded finance capabilities into CirclesX, Circles’ SaaS platform for telecom operators.
The companies said telcos will be able to offer services such as global payouts, travel cards, supplier payments and expense management without building or managing their own financial infrastructure.
“At Circles, we’re continuously pushing the boundaries of innovation for the industry beyond just core telco products and we are confident that embedded financial products will power the next phase of revenue growth for telcos.
With Airwallex’s fintech expertise, we’ve built a globally scalable financial services stack embedded in our platform, making it seamless for any telco organisation to launch and scale financial products or services with zero licensing and infrastructure hassles,”
said Awais Malik, Chief Growth Officer, Circles.
“Telecom operators sit at the centre of their customers’ daily lives, but connectivity alone is no longer enough to drive long-term growth.
By partnering with Circles and integrating with the CirclesX platform, we’re enabling operators to embed trusted, global financial services directly into their digital experiences – unlocking new revenue streams, deeper engagement and stronger customer lifetime value at scale,”
said Arnold Chan, General Manager, Asia-Pacific, Airwallex.
Circles said FinX will help operators expand into payments and remittances using existing KYC capabilities.
Airwallex supports money movement to more than 200 countries and territories and holds more than 80 licences and permits globally.
CirclesX has been used by telecom operators including KDDI, e&, and AT&T to launch digital MVNOs across Asia and South America. It has also supported Telkomsel’s end-to-end digital backbone in Indonesia.
In Singapore, Circles.Life has already launched two FinX-powered products: a semi-open wallet and a cashback card.
Circles will begin rolling out FinX to existing CirclesX customers and other telecom operators in the coming weeks.
Featured image: Edited by Fintech News Singapore, based on image by pvproductions via Freepik
