Dext and Airwallex Join Forces to Introduce a Payment Integration Platform in Canada
In a groundbreaking move, UK-based fintech firm Dext and Australian payments giant Airwallex have joined forces to launch Dext Payments, an integrated offering tailored for Canadian small businesses. This partnership promises to simplify financial management, streamline accounts payable, and enable quicker customer payments from a single interface.
The unified payment platform, set to roll out later this year, will be embedded into Dext's intelligent accounting platform, offering full automation from invoice upload to final payment. Canadian small businesses will now have the ability to review, approve, and process payments seamlessly within the Dext environment, including paying suppliers and employees, as well as receiving payments from customers—all from one central platform.
One of the key features of Dext Payments is direct access to wallet balances. Businesses can view and manage client wallet balances directly within Dext, providing real-time visibility of available funds and streamlining cash flow management. This automation and integration with Dext’s existing tools for receipt, invoice, and expense capture mean less manual data entry and fewer errors.
Security is paramount in Dext Payments, with all transactions handled securely and robust safeguards in place to protect business and client finances. The platform is designed to scale with business growth, supporting an increasing number of payments and users as businesses expand.
The partnership between Dext and Airwallex will have a widespread impact in Canada due to Dext's local presence and user base. With nearly 2,000 accounting and bookkeeping partners and 9,000 small business customers, Dext has a strong foothold in the Canadian market. Airwallex, founded in Melbourne in 2015, has recently closed a $300 million Series F funding round at a $6.2 billion valuation, demonstrating its global influence.
The partnership aims to give small businesses and their advisors clarity and confidence over how money moves. By unifying payment processing with existing Dext features (like receipt scanning, expense tracking, and bookkeeping), businesses can manage all financial activities within a single platform. This results in significant time savings, improved cash flow management, enhanced security, greater convenience, and better collaboration.
Dext Payments will also enable bookkeepers and accountants to facilitate direct payments and simplify reconciliation. With market-leading FX rates, this solution is a valuable tool for Canadian businesses dealing in cross-border transactions. Overall, Dext Payments empowers Canadian small businesses by combining payment processing, expense management, and financial oversight within a secure, integrated, and scalable platform, ultimately saving time, reducing errors, and supporting business growth.
The unified payment platform, Dext Payments, will be embedded into Dext's intelligent accounting platform, offering small businesses the ability to manage all financial activities, including payment processing, expense tracking, and bookkeeping, from one central platform. This integration with technology will streamline cash flow management, reduce manual data entry, and provide greater convenience for small businesses and their advisors.
