Banking Circle today announced a new partnership  with JD Fintech, a financial service platform for cross-border businesses and an  affiliate of JD.com, to provide the infrastructure enabling real-time payments,  Foreign Exchange ('FX') and marketplace collections for global businesses and  merchants. 

As a financial service platform, JD Fintech is focused on delivering seamless, scalable,  and compliant payment solutions for both businesses and consumers. Integrating  into Banking Circle's infrastructure, JD Fintech will help accelerate the cross-border  payment efficiency. With the new partnership, JD Fintech can reduce friction in cross border payments and enable businesses to seamlessly open multi-currency accounts  for collections, payments, currency exchange, and real-time funds management.  Access to Banking Circle’s virtual IBANs and local clearing rails further allow  businesses to benefit from enhanced financial agility while ensuring compliance with  local regulatory requirements. 

Banking Circle’s single API and local clearing rails will be instrumental in building a  seamless and localised payment experience for both merchants and shoppers on our  platform. 

“With JD Fintech we are playing a part in strengthening the international digital  commerce corridor for expansion," said Mishal Ruparel, Chief Commercial Officer at  Banking Circle. “By connecting JD Fintech to our unparalleled local clearing network,  we provide enhanced speed and transparency in cross-border transactions which will  give Asian PSPs and fintech new ways to serve merchants looking to expand globally.”