Banking Circle has collaborated with JD Fintech, a financial services platform for international businesses and affiliated with JD.com.

The partnership enables Banking Circle to provide the necessary infrastructure for real-time payments and foreign exchange (FX), as well as marketplace collections for global enterprises and merchants. Meanwhile, JD Fintech will continue its focus on offering straightforward, compliant, and scalable payment solutions for both businesses and consumers.

Facilitating Cross-border Solutions

This integration aims to facilitate the growth of cross-border services by streamlining processes, reducing obstacles, and allowing companies to establish multi-currency accounts for collections, payments, currency exchange, and real-time fund management. Through Banking Circle’s virtual International Bank Account Numbers (IBANs) and local clearing systems, businesses can achieve better financial agility while adhering to both domestic and international regulatory standards.

Banking Circle’s single API and localized payment solutions play a crucial role in providing a simple and personalized payment experience for merchants and customers on the platform. The credit institution sees this alliance as a positive move that will reinforce the international digital commerce pathway, connecting JD with its local clearing network. This strategic partnership promises optimized speeds and enhanced transparency in cross-border transactions, presenting Asian payment service providers (PSPs) and fintech firms with innovative methods to cater to global merchants.

In related news, Banking Circle’s wholly owned subsidiary BC Payments recently acquired a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS). This achievement is integral to the company’s expansion strategy, positioning BC Payments Singapore as a fully licensed entity capable of managing cross-border payment flows for banks, fintech firms, and global payment providers in the region.

This development underscores Banking Circle’s dedication to broadening its presence within the Asian market and ensuring robust real-time international transactions. It also aligns with the company’s efforts to meet the evolving needs of customers seeking efficient and cost-effective payments across Asia.