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Technical Integration
This integration leverages ClearBank’s cloud-based infrastructure to connect with various UK payment networks.
The Faster Payments system allows for near-instant transfers between UK bank accounts, whereas BACS manages direct debits and credits with a two-day settlement period. For high-value transactions, CHAPS offers same-day settlements.
The focus of this implementation was on quickly rolling out services.
“Our main goal is to deliver quick, adaptable, and smooth financial services to businesses. ClearBank’s agency banking solution aligns seamlessly with our vision, enabling us to enhance our offerings in the UK while preserving our brand identity,” states Vivien Cheung, Head of Financial Partnerships for EMEA at Airwallex.
Vivien further emphasizes, “The team’s profound understanding of our business requirements along with their quick execution has been crucial throughout the development of our partnership and the integration process.”
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