Airwallex and McLaren F1: Sponsorship Deal Goes beyond Brand Promotion

<p dir="ltr">Airwallex, a payments and financial platform for businesses, has entered the racing arena with its latest multi-year partnership deal with the McLaren Formula 1 team. Announced today (Monday), Airwallex has gained the status of Official Partner of the racing team.</p><p dir="ltr">A Strategic Deal for Both</p><p dir="ltr">Under the deal between the two, Airwallex will optimize the supply chain payments of McLaren’s racing team. The payments company will support the racing team’s global financial operations through its suit of treasury management, cross-border pay-outs, and settlement products.</p><p dir="ltr">The partnership was strategic, as <a href="https://www.financemagnates.com/tag/mclaren/">McLaren</a> highlighted that it had to incur high foreign exchange fees with its United Kingdom-based singular currency account when making payments to global suppliers.</p><p dir="ltr">“In the competitive world of Formula 1, efficiency and performance are crucial both on and off the track,” Zak Brown, the CEO of McLaren Racing. “We are delighted to have Airwallex on board and use their innovative and trusted payment solutions to support our team’s financial operations.”</p><blockquote><p lang="en" dir="ltr">Welcome aboard the papaya family, <a href="https://twitter.com/airwallex?ref_src=twsrc%5Etfw">@Airwallex</a>!