Cross-border payments startup Airwallex has joined forces with Deutsche Bank to offer virtual account collections in Japan and API-enabled foreign exchange services in Hong Kong.

The service is already live in Japan. Supported by the partnership, Airwallex will now process and convert cross-border payments to its merchants in Greater China.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

It will do so by leveraging virtual accounts and API technology.

Deutsche Bank APAC head of corporate cash management Chintan Shah said: “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.”

Merchants using Airwallex will now not be required to open a bank account in countries where their customers live, noted the German bank.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Founded in 2015, Airwallex is a cross-border payments company that serves industries including digital, e-commerce, transportation, education and travel.

Airwallex CEO and co-founder Jack Zhang said: “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.

“We intend to work with as many partners like Deutsche Bank to extend this service in more markets and realise our mission to empower businesses to grow beyond borders and scale the digital economy.”

In April 2020, Airwallex received $160m in its Series D fundraising round to support its global expansion.