Standard Chartered Bank announced last week it has launched an expanded online gateway and mobile app for corporate clients, to additional markets in Asia to further support its clients’ growing e-commerce and m-commerce aspirations. According to Standard Chartered, the gateway is now available in China, Hong Kong, India, Malaysia, Singapore, and Vietnam, with more to come such as Bangladesh and Kenya. It simplifies collections from various payment methods, including instant and QR-based payments, bank transfers, cards and mobile wallets across online, mobile and in-store interfaces.
“Through direct connectivity to instant payment schemes across its key footprint markets, along with the partnerships with leading payment service providers and fintech players, Standard Chartered is serving the growing need for efficient digital collections among corporates. Clients can now rely on the Bank as their single collections provider – this means they no longer need to establish multiple technical connections, open multiple accounts, negotiate multiple contracts or undertake due diligence on multiple partners, resulting in operational efficiencies and cost savings.”
Speaking about the launch, Judy Bei, Global Head of Payments and Receivables, Cash, Transaction Banking at Standard Chartered, stated:
“The global e-commerce market is expected to account for around one-fifth of the total commerce market by 2021, with more than half of this market value driven by mobile payments. As our corporate clients look to capitalise on this opportunity, we want to be their trusted partner in the growth journey, with this expansion of Straight2Bank Pay further supporting their need for a seamless digital collections experience.”
Lisa Robins, Global Head of Transaction Banking, added:
“With an extensive footprint across some of the world’s most dynamic markets, we are well-positioned to play the role as a connector bank for our clients, and enable them to successfully manage their flows as they expand their online presence. We will continue to invest and innovate in enhancing our cash management solutions to address our clients’ ever-changing challenges.”