Australian fintech firm Airwallex has teamed up with Plaid, a data network that power digital financial ecosystem, to deliver a solution that will consolidate automated clearing house (ACH) payments in the US.
The integrated solution will allow Airwallex’s American clients to safely authenticate their bank accounts.
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Airwallex’s direct debit offerings will use these authentications to add funds to the users’ Airwallex wallet from an outside bank account.
Merchants can also use the verifications to accept payments from their customers who are part of Airwallex’s payment acceptance network.
Airwallex global head of partnerships and general manager for Americas Ravi Adusumilli said: “Through this integration, customers can authenticate the payers’ bank accounts without the complexity and time that usually comes with traditional ACH processing.
“Enabling a more seamless customer experience like we are with Plaid is exactly why Airwallex was built.
“We are providing easier access to a global financial infrastructure, and can in turn, empower businesses to operate anytime, anywhere.”
With a workforce of 1,300 people, Airwallex currently has operations throughout Asia-Pacific, Europe and North America.
Last month, the firm announced a partnership with buy now pay later (BNPL) company Atome to enable merchants in four Asian nations to accept BNPL payments.
Plaid head of partnerships Tamara Romanek said: “The digital financial ecosystem is all about enabling faster, easier, and more secure ways to move funds.
“Partners like Airwallex ensure that customers have a seamless and safer way to make ACH transfers for account funding.”
