Banking Circle Announces Partnership with JD Fintech to Supercharge Payment and Settlement

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.”