Airwallex, a cross-border payments infrastructure platform has partnered with open banking platform TrueLayer to mutually improve cross-border, multi-currency open banking payments, reconciliations, and back-office processes.

TrueLayer will leverage Airwallex’s localized infrastructure for global payments, while Airwallex should benefit from the former’s real-time, account-to-account (A2A) payments infrastructure.

Analyst QuickTake: These two companies have entered partnerships in recent times to enhance their respective infrastructure solutions. Last November, Airwallex partnered with Atome to enable Airwallex merchants to offer payment in installments to their customers (buy-now-pay-later [BNPL]). Meanwhile, Thunes partnered with TrueLayer in June 2022 to integrate TrueLayer onto its platform and allow British and European customers to enable cross-border open banking payments.