Fintech unicorn works with Deutsche Bank to launch new FX services

The new collaboration will enhance the way businesses move and manage money across borders

Deutsche Bank Airwallex

Fintech unicorn works with Deutsche Bank to launch new FX services. Source: shutterstock.com

Deutsche Bank will allow Airwallex to provide virtual account collections and API-enabled FX services in Japan and Hong Kong, respectively.

According to the report, the solution is already live in Japan. It will further enable Airwallex to process and convert cross-border payments made to its Greater China’s merchants through virtual accounts and API.

Besides, merchants won’t need to open bank accounts in the markets where their customers are based, thus simplifying the entire payment process.

We are delighted to partner with Airwallex to further build the company’s international business of digital payment collections. With our leading-edge corporate payment solutions, expertise in working with fintech and e-commerce companies worldwide, Deutsche Bank is well placed to be the cash management bank of choice for this industry as we help to support the growing digital economy
Chintan Shah, APAC Head of Corporate Cash Management at Deutsche Bank

We’ve reported that the British payment platform VibePay has opened up its APIs for B2B and subscription payments, thus making available for retailers, businesses, and SMEs. The company announced its plans after it secured €1.4 million in funding, making the total investment reach €7.2 million.

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