Airwallex and Carwow Partner to Modernise Car Buying and Selling Process

• By embedding Airwallex’s Scale Native API into Carwow’s platform car dealers and private sellers will have a trusted and secure way to purchase and sell cars

• The partnership will remove off-platform payment friction for dealers whilst enhancing confidence and trust for private sellers 

• Airwallex partnering with the UK’s leading car-changing marketplace signals strong and promising growth in the region 

LONDON, Thursday 9th January 2025 - Airwallex, a leading global payments and financial platform for modern businesses, today announced its partnership with Carwow, the online car-changing marketplace. Following the integration of Airwallex’s Scale Native API, Carwow can now process payments for those enterprise dealer groups who purchase cars from thousands of private sellers through its daily online auctions every week. 

As well as ensuring private sellers receive immediate payment for their old car, the integration will also benefit Carwow’s dealer partners by removing major operational hurdles. Dealers in the Carwow network will agree to terms and conditions before being allocated an Airwallex Account, which will provide GBP account details for dealers to securely store funds and easily transfer payments to purchase cars.

Additionally, dealers will benefit from same-day payment settlements, improving overall cash flow and efficiency. This includes handling payments to multiple beneficiaries during the car sale, such as the seller and finance house, plus the management of any instances of negative equity balance.

With this partnership, Carwow will streamline the car-changing experience and address challenges associated with off-platform payments. Dealers connected to the service can track the status of their payments, while sellers will be notified via email when payments are sent - bringing greater transparency, security, and speed to the car buying and selling process.

Commenting on the partnership, Kai Wu, Chief Revenue Officer from Airwallex said, “We know that friction and lack of transparency with payments can erode confidence and create frustration. Our embedded finance solutions will help resolve these challenges, with Carwow’s dealer partners and private sellers now benefiting from greater protection and a seamless payment experience - all within Carwow’s trusted platform. Not only will our partnership unlock benefits for all involved in the car buying and selling process, it will empower Carwow to dramatically enhance its services for its dealer partners.”

Sally Foote, Chief Commercial Officer at Carwow added, “We understand that for many of our large dealer partners, despite best intentions, there are many operational hurdles that limit their ability to arrange same-day payment when purchasing cars. The integration with Airwallex will be a game-changer as it will enable our dealer partners to quickly, easily and securely process payments when buying cars from private sellers, thus ensuring an even more trusted and convenient way for consumers to sell their cars through Carwow. Our partnership with Airwallex will no doubt improve the all-around experience of our partners and customers”. 

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NOTES TO MEDIA

For further information

If you have any questions or would like to request further information, please contact [email protected] and Carwow comms

About Airwallex Airwallex is a leading global financial platform for modern businesses, offering trusted solutions to manage everything from payments, treasury, and spend management to embedded finance. With our proprietary infrastructure, Airwallex takes the friction out of global payments and financial operations, empowering businesses of all sizes to unlock new opportunities and grow beyond borders. Proudly founded in Melbourne, Airwallex supports over 150,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more. For more information, visit http://www.airwallex.com.

Airwallex (UK) Limited, is an electronic money institution authorised by the Financial Conduct Authority with registration number 900876.

Airwallex (Netherlands) B.V. is an electronic money institution authorised by De Nederlandsche Bank in the Netherlands with licence number R179622.

About Carwow Car-changing is a big deal. Carwow is where you come to get the big deals done.

Thanks to expert advice, a wide range of models and makes and a network of verified dealers, we make it easy - whether you’re buying, selling or dreaming. With over 3.5m monthly users we’re proud to be the one-stop shop to change your car.

As an important partner for the automotive industry we use market-leading insights and create top-notch advertising content to fuel the success of the dealers and brands we partner with. Since we were founded, we’ve:

• Raised $157m from some of the biggest tech, marketplace and automotive investors, including Balderton Capital, Accel, Vitruvian Partners, Episode and Samos

• Become one of the biggest automotive channels on YouTube, hitting over 9 million subscribers thanks to Mat Watson and the team.

• Created a service customers love, with a 4.6 rating on Trustpilot from over 50,000 reviews

• Launched our ‘Sell My Car’ service in the UK where dealers compete to get customers the best price for their car.

• Opened offices in the UK, Germany, Spain and Portugal with a combined team of 400+ Carwowers.

For our latest news, visit https://www.carwow.co.uk/editorial/news/carwow-newsroom

Or for our latest partner news, go to https://www.carwow.co.uk/editorial/news/carwow-partners

For straight-shooting reviews and pulse-racing drag races, check us out at www.youtube.com/carwow.