The new collaboration will enhance the way businesses move and manage money across borders

Fintech unicorn works with Deutsche Bank to launch new FX services. Source: shutterstock.com

Deutsche Bank will allow Airwallex to provide virtual account collections and API-enabled FX services in Japan and Hong Kong, respectively.

According to the report, the solution is already live in Japan. It will further enable Airwallex to process and convert cross-border payments made to its Greater China’s merchants through virtual accounts and API.

Besides, merchants won’t need to open bank accounts in the markets where their customers are based, thus simplifying the entire payment process.

We’ve reported that the British payment platform VibePay has opened up its APIs for B2B and subscription payments, thus making available for retailers, businesses, and SMEs. The company announced its plans after it secured €1.4 million in funding, making the total investment reach €7.2 million.

SEE ALSO:

• How banks use chatbots: outstanding examples
• Digital business banking: how to choose the best option
• Bankruptcy: when and how to file for it