At the recent Singapore FinTech Festival, Standard Chartered and PayerMax unveiled a powerful collaboration aimed at tackling the complexities of cross-border payments. This partnership strengthens the global payments ecosystem, particularly in emerging markets, by integrating advanced compliance frameworks, cutting-edge technologies, and seamless ecosystem collaboration.
PayerMax, known for its comprehensive payment solutions for global merchants, has now integrated its services with Standard Chartered’s FX Scale product. This strategic alliance connects international accounts through hubs in Hong Kong and Singapore, offering merchants multi-currency virtual accounts and batch payment solutions. The result: faster, more efficient cross-border transactions, reduced processing costs, and enhanced currency management.
Wang Hu, Co-founder & President of PayerMax, emphasized the significance of this integration, saying, “Partnering with Standard Chartered allows us to enhance our payment solutions with a global reach and robust infrastructure. By leveraging the bank’s extensive network, we can provide seamless, cost-effective payment services while centralizing treasury management for our clients.”
Luke Boland, Global Head of FinTech at Standard Chartered, echoed the sentiment, highlighting the transformative nature of the partnership: “This collaboration represents a symbiotic relationship. It enables real-time local payments, better liquidity management, and supports the growing demand for efficient payment solutions in the cross-border space.”
With licenses from key regulatory authorities in markets like Saudi Arabia, UAE, Singapore, and Hong Kong, PayerMax’s innovative approach is well-positioned to cater to the needs of global merchants in an increasingly interconnected world.
This collaboration marks a milestone in the evolution of cross-border payment solutions, combining Standard Chartered’s trusted banking infrastructure with PayerMax’s agility and market expertise.
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