Airwallex, an Australia-based fintech company, announced on Tuesday it has formed a new partnership with small business platform Zero to help Airwallex’s small-to-medium business (SMB) customers seamlessly reconcile their domestic and international payments.
As previously reported, Airwallex was founded in 2015 and is described as a foreign exchange market that makes and crosses border payments on Asia-Pacific markets. The company facilitates international money transfers through a combination of payment collection, foreign exchange, and local payment distribution.
Airwallex reported its integration with Xero will enable SMBs to connect their multi-currency financial transactions in Airwallex to Xero and will allow Airwallex customers to view a daily update of their transactions through their Xero bank feeds, simplifying and speeding up the reconciliation process to free SMBs from labor-intensive manual processes so they can instead focus on driving business growth. Jack Zhang, CEO and Co-Founder of Airwallex, shared his thoughts about the integration by stating:
“An integration with Xero is one of the most requested integrations from our customers. We have been listening and are delighted to be able to offer this to our Australian customers from today, with a wider international rollout planned across 2020. This is the start of a series of capabilities that we plan to introduce with Xero to improve the way small businesses manage their finances across platforms.”
The integration between Xero and Airwallex is currently live in Australia and will become available in the UK and HK later this year.