Dext Payments automates bookkeeping payroll with Airwallex

Toronto-based bookkeeping software Dext has partnered with Melbourne-founded finance platform Airwallex to launch Dext Payments later this year. The move will integrate payments automation into Dext's bookkeeping platform across multiple currencies and regions.

The two companies say the collaboration will modernise bookkeeping and finance for small businesses with added features including full invoice automation, payroll and enhanced security.

The move comes in response to increasingly complex operations and economic pressures faced by business owners. Dext Payments states that improving cash flow through fast and efficient payment systems is becoming increasingly important in an unpredictable economy.

Sabby Gill, CEO of Dext, 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."

Gill added that Airwallex will bring competitive rates and multi-currency wallets to the table through the partnership. Businesses can receive payment from 12 countries in over 20 currencies through the existing Airwallex infrastructure. "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," he added.

For accountants and bookkeepers, the new platform is expected to expand their service offering by allowing them to provide payment capabilities to their clients. Accountants will have direct access to client wallet balances within Dext, and will be able to review, approve and process payments more efficiently.

"We're excited to partner with Dext, a company that shares our passion for modernizing financial operations," said Kai Wu, Chief Revenue Officer at Airwallex. "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."

The Airwallex platform supports payouts in over 150 countries and over 46 currencies. The company is regulated across several jurisdictions, and in Canada, is registered as a Money Service Business with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC).

"With Airwallex's breadth of payment and financial service capabilities, we are perfectly positioned to power the financial infrastructure of tech-forward businesses like Dext as they look to accelerate growth and expand globally," said Wu.

To date, Dext can integrate with major accounting software, including Intuit QuickBooks and Sage. Linking an account to eCommerce platforms like Square and Shopify is also possible through the software.

Alpha testing for the platform is expected to begin next month. The global rollout will begin with the UK in the Autumn, followed by launches in Europe, North America, and the Asia-Pacific.