Dext, a bookkeeping automation provider within the IRIS Software Group, has formed a strategic alliance with Airwallex to introduce a new payment solution for small businesses.
This partnership will launch Dext Payments later this year, a feature integrated into Dext’s platform to streamline the accounts payable process.
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It will automate the entire workflow, from uploading invoices to processing payments, said Dext in its press statement.
The collaboration combines the expertise of both companies to simplify financial tasks for small and medium-sized businesses (SMBs) and their accounting partners.
By incorporating Airwallex’s payment system into Dext’s automation tools, Dext Payments will offer a unified way to handle supplier payments, expenses, payroll, and invoice-based collections.
The solution also enhances security by verifying suppliers and payment details using data held by Dext, ensuring accurate payments.
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By GlobalDataDext CEO Sabby Gill said: “Airwallex stood out as the ideal partner to power Dext Payments. Its global presence allows us to support customers in every region we operate in, and Airwallex’s secure, developer-friendly platform integrates seamlessly with the Dext platform.”
Dext Payments will allow for the quick review, approval, and processing of payments, with direct access to client wallet balances within the Dext platform.
Small businesses using Dext Payments can directly pay suppliers and employees, include payment links on invoices for quicker collection, and manage multi-currency wallets.
The service will also enable businesses to receive payments with local bank details in 12 countries and in more than 20 currencies.
Dext Payments is scheduled to begin alpha testing in August.
The full global launch is slated for Autumn 2025, starting with the UK market and followed by phased introductions in Europe, North America, and the Asia-Pacific region.
Airwallex CRO Kai Wu stated: “Dext’s strong customer base, deep domain expertise, and focus on automation make them the perfect partner to take our financial infrastructure to market in a way that drives real customer impact.”
In May, Airwallex raised $300m in Series F funding round at a valuation of $6.2bn.
The fundraise includes $150m in secondary share transfers and takes the company’s total funding to more than $1.2bn.
This capital will be used to extend Airwallex’s global reach and refine its software solutions for businesses.
