Deutsche Bank to enable Airwallex to provide virtual account collections and API-enabled FX services in Japan and HK
Already live in Japan, the solution will further allow Airwallex to seamlessly process and convert cross-border payments made to its merchants based in Greater China by using virtual accounts and API technology.
Deutsche Bank today announced that it will enable fintech firm Airwallex to provide virtual account collections and API-enabled foreign exchange services in Japan and Hong Kong respectively.
Already live in Japan, the solution will further allow Airwallex to seamlessly process and convert cross-border payments made to its merchants based in Greater China by using virtual accounts and API technology. Through these services, merchants using Airwallex will benefit from not needing to open bank accounts in the markets where their customers are based, thereby simplifying the entire payment process.
Founded in 2015 and headquartered in Hong Kong, Airwallex is a technology company that is transforming the way businesses move and manage money across borders through a financial infrastructure designed to help its customers grow in their own markets and in all corners of the globe. Its existing customers span across industries such as digital, e-commerce, transportation, education and travel.
As FinanceFeeds has reported, in April this year Airwallex closed its Series D fundraising round at US$160 million. The round includes majority participation from a group of new strategic investors, including ANZi Ventures, the corporate venture capital arm of ANZ Bank, and Salesforce Ventures.
