Accelerating McLaren Racing’s cross-border payments
Airwallex helps McLaren's Formula 1 team to run their financial operations with the same speed, precision, and performance that they show on the track.
Access to the world’s local payments network
Airwallex’s proprietary local payments network offers McLaren a faster, more cost-effective, and transparent alternative to legacy banking. From Silverstone to Singapore, the McLaren team can operate like a local business from anywhere in the world. With Airwallex, they can open accounts with local bank details in minutes, accept payments in local currency to avoid costly forced conversion fees, hold funds in a multi-currency wallet, convert currencies at leading rates, and make high-speed transfers to their suppliers around the world in a few clicks.
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A partnership engineered for excellence
“In the competitive world of Formula 1, efficiency and performance are crucial both on and off the track. We are delighted to have Airwallex on board and use their innovative and trusted payment solutions to support our team’s financial operations.”
Zak Brown
CEO at McLaren Racing
“There are very few brands that match McLaren’s heritage and global appeal. Like McLaren, Airwallex is constantly innovating to move faster and with greater precision – with a product that unites people around the world. Our partnership will play a key role in supporting our global expansion, and we look forward to working with the McLaren team in 2024 and beyond to support our mutual growth.”
Jack Zhang
CEO and Co-Founder of Airwallex
Why businesses of all sizes choose Airwallex
Why businesses of all sizes choose Airwallex
Simple
No bank queues or lengthy paperwork – get set up online
Lightning fast
Over 70% of transfers arrive within the same day
Cost effective
Cut out needless FX fees and improve your profit margins
We don't do bots
Our award winning service team is ready to help
Cloud native
We’re built for businesses that live in the cloud
Safe & reliable
Our security is based on the highest international standards
Peace of mind
We worry about global compliance so you don’t have to
Frequently asked questions
How can Airwallex help my business?
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 100,000 businesses globally and is trusted by brands such as Brex, Rippling, Navan, Qantas, SHEIN and many more.
What is McLaren Racing?
McLaren Racing was founded by racing driver Bruce McLaren in 1963. The team entered its first Formula 1 race in 1966. McLaren has since won 20 Formula 1 world championships, 183 Formula 1 grands prix, the Indianapolis 500 three times, and the Le Mans 24 Hours at its first attempt.
McLaren Racing competes across five racing series. The team competes in the FIA Formula 1 World Championship with McLaren F1 drivers Lando Norris and Oscar Piastri, the NTT INDYCAR SERIES with Arrow McLaren drivers Pato O’Ward, Alexander Rossi and David Malukas, the ABB FIA Formula E World Championship with NEOM McLaren Formula E Team drivers Jake Hughes and Sam Bird, and the Extreme E Championship as the NEOM McLaren Extreme E Team. The team also competes in the F1 Sim Racing Championship as McLaren Shadow, having won the 2022 Constructors’ and Drivers’ Championships.
How is Airwallex working with McLaren Racing?
McLaren uses Airwallex to optimise its supply chain payments for all Grands Prix. McLaren’s previous approach limited payment to suppliers, such as hotel and event space providers, to a singular currency account, based in the UK, resulting in high foreign exchange (FX) charges, slow transfer time, and additional SWIFT fees.
Airwallex’s financial technology unlocks multi-currency payment options for McLaren, providing the company the ability to hold core currencies and exchange them with speed and ease at any point. By leveraging our extensive global proprietary payment rail network, Airwallex can help to reduce the amount of SWIFT fees that may be payable.
As part of this partnership, Airwallex will also provide technology to support the launch and ongoing operation of McLaren’s digital partner merchandise platform - further enhancing their multi-currency collection capabilities and allowing them to offer a broad range of global and local payment options.
How can local currency accounts help my business save on transaction fees?
Local currency accounts can be used to avoid unnecessary conversion fees and to save on everyday expenses. You can collect payments from your international customers in their preferred currency and then spend those proceeds later in the same currency (for example, to pay global suppliers and employees), thereby eliminating unnecessary conversion fees. You can also benefit from holding funds in a foreign currency until FX rates are favourable enough to convert these funds to your home currency.
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