Bookkeeping automation provider Dext has joined forces with Airwallex, the global payments and financial services platform, to launch a new payment solution later this year.
Dext and Airwallex will work together to launch Dext Payments, an integrated payments solution within the Dext platform, completing the accounts payable workflow in Dext and offering full automation from invoice upload through to payment.
The partnership brings together two fintechs with a shared vision: to modernise financial workflows for SMBs and their accounting and bookkeeping partners. By integrating Airwallex’s payments infrastructure into Dext’s automation platform, Dext Payments will look to deliver a single solution for managing supplier and expenses payments, payroll, as well as an easier way to get paid directly from an invoice.
The launch comes as SMBs face increasingly complex operations. In the UK alone, nearly half of small business invoices are paid late, waiting an average of 46 days to get paid and losing time chasing overdue payments. Recognising the impact on cash flow and business viability, the UK Government has also reinforced its Fair Payment Code, urging prompt payment practices across supply chains.
Recognising these challenges, Dext says it plans to deliver a centralised payments layer directly within the Dext platform to give businesses and their advisors clarity, control and confidence over how money moves.
“Airwallex stood out as the ideal partner to power Dext Payments,” explained Sabby Gill, CEO of Dext. “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. With competitive FX rates, multi-currency wallets, and a strong focus on compliance, Airwallex gives us the confidence to bring this product to market at scale.
“With our focus on making bookkeeping effortless, Dext Payments makes complete sense. It brings everything into one place, eliminating friction and giving our customers clarity, control and confidence over how they pay and get paid.”
Supporting accountants and bookkeepers
The solution also introduces enhanced security by verifying suppliers and payment details using data held by Dext, giving users greater confidence that suppliers are paid correctly and effortlessly.
For accountants and bookkeepers, Dext Payments will enable them to expand their offering by providing payment services to clients. With direct access to client wallet balances within Dext, payments will be quickly reviewed, approved and processed. The platform will also streamline reconciliation through automation and incorporate built-in fraud detection, reducing manual effort while improving security and accuracy.
Dext explains that these capabilities become even more valuable in light of the new requirements under the Economic Crime and Corporate Transparency Act (ECCTA), which emphasises greater financial transparency and digital reporting.
Airwallex’s financial infrastructure underpins Dext Payments. Regulated across multiple jurisdictions, including by the UK’s Financial Conduct Authority, it enables payouts in over 150 countries and more than 46 currencies.
“We’re excited to partner with Dext, a company that shares our passion for modernising financial operations,” Kai Wu, chief revenue officer at Airwallex, also added. “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.”
Dext Payments will enter alpha testing in August across select user groups and markets. Dext is also encouraging users to register interest in the upcoming beta programme. The global rollout will begin in Autumn 2025, starting with the UK, followed by phased launches across Europe, North America, and APAC.
Source: https://thefintechtimes.com/
