Fintech unicorn Airwallex has turned to Deutsche Bank to help it provide virtual account collections and API-enabled foreign exchange services in in Japan and Hong Kong, respectively.
Already live in Japan, the deal allows Airwallex to seamlessly process and convert cross-border payments made to its merchants based in Greater China by using virtual accounts and API technology.
Merchants using Airwallex will benefit from not needing to open bank accounts in the markets where their customers are based, simplifying the entire payment process.
Jack Zhang, CEO, Airwallex, says: "As more online merchants around the world, including Greater China and Japan, look to expand their client base beyond their home market, this digital payment collection service will be a game changer for them."
Chintan Shah, Apac head, corporate cash management, Deutsche Bank, adds: "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."