Banking Circle has joined forces with JD Fintech to support faster and more reliable cross-border payment services for global businesses.

The partnership gives JD Fintech access to Banking Circle’s infrastructure for real-time payments, foreign exchange and marketplace collections.

JD Fintech said the integration will help reduce friction in international transactions and deliver scalable, compliant payment solutions for businesses and consumers.

The collaboration enables multi-currency accounts for collections, payments, currency exchange and real-time funds management.

Banking Circle’s virtual IBANs and local clearing networks will help businesses manage funds across markets while meeting regulatory requirements.

Banking Circle said its single API and local clearing rails will support a more localised payment experience for both merchants and shoppers on JD Fintech’s platform.

“With JD Fintech we are playing a part in strengthening the international digital commerce corridor for expansion.

By connecting JD Fintech to our unparalleled local clearing network, we provide enhanced speed and transparency in cross-border transactions which will give Asian PSPs and fintech new ways to serve merchants looking to expand globally.”

said Mishal Ruparel, Chief Commercial Officer at Banking Circle.

Featured image: Edited by Fintech News Singapore, based on image by ilygraphic via Freepik