Dext, a provider of bookkeeping automation and part of the IRIS Software Group, has announced a strategic partnership with Airwallex.
This partnership enables the launch of Dext Payments later in 2025, a fully integrated payment solution within the Dext platform. It will complete the accounts payable workflow in Dext, automating the process from invoice upload to payment.
Merging strengths for modern financial workflows
The collaboration between Dext and Airwallex merges the strengths of two fintechs, both of which aim to modernise financial workflows for small and medium-sized businesses (SMBs) as well as their accounting and bookkeeping partners. By integrating Airwallex’s payment infrastructure into Dext’s intelligent automation platform, Dext Payments will provide a unified solution for managing supplier and expense payments, payroll, and simplifying the process of receiving payments directly from invoices. This solution also increases security by verifying suppliers and payment information using data from Dext, giving users confidence that payments will be made accurately and easily.
Addressing late invoice payments
SMBs in the UK often struggle with late invoice payments, averaging 46 days, which negatively impacts cash flow. In response, the UK Government has strengthened its Fair Payment Code to promote timely payments. Dext Payments seeks to tackle these challenges by offering a secure, centralised payments solution within the Dext platform, providing businesses and their advisors with better clarity, control in managing financial transactions.
Dext Payments enables accountants and bookkeepers to offer payment services, facilitating quick review and processing of client payments with automated reconciliation and fraud detection. This is beneficial considering the new Economic Crime and Corporate Transparency Act requirements for financial transparency. For small businesses, Dext Payments allows for direct payments to suppliers and employees, quicker invoice collections, and the management of multi-currency wallets with competitive foreign exchange rates. Businesses can receive payments using local bank details in 12 countries and over 20 currencies.
Powered by Airwallex's secure financial infrastructure, Dext Payments supports payouts in over 150 countries and more than 46 currencies.
