Deutsche Bank announced that it has partnered with global fintech unicorn Airwallex so that the latter can provide virtual account collections in Japan and API-enabled foreign exchange (forex) services in Hong Kong.
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.
Chintan Shah, APAC Head of Corporate Cash Management at Deutsche Bank, 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.”
Jack Zhang, CEO and Co-Founder of Airwallex, 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 realize our mission to empower businesses to grow beyond borders and scale the digital economy.”
