PayerMax and Standard Chartered collaborate on cross-border payments

The partnership addresses challenges in emerging markets through enhanced compliance frameworks, technological integration, and cooperation between ecosystems. Merchants operating globally require a reliable payment solution capable of serving multiple regions and markets. In response, PayerMax teamed up with Standard Chartered to leverage the bank's extensive global network and deep local expertise in emerging markets, ensuring their solution can meet the needs of international businesses. 

The collaboration involves integrating PayerMax's solution with Standard Chartered's FX Scale product, which connects accounts across various countries via hubs in Hong Kong and Singapore. The technical integration also includes Host-to-Host (H2H) connections and APIs, facilitating multi-currency virtual accounts and batch payment solutions. These capabilities allow merchants to efficiently manage their multi-currency accounts and segregate fund flows based on currency and channel.

Enhanced payment solutions for global merchants

PayerMax officials emphasised the benefits of working with Standard Chartered, stating that the partnership helps create a more robust payment network for global merchants. He noted that leveraging the bank's infrastructure allows PayerMax to offer a comprehensive payment solution that reduces transaction costs and processing times while enabling merchants to centralize their treasury management. 

Standard Chartered officials stated that the collaboration has provided valuable insights, helping both companies adapt their offerings to better serve PayerMax’s needs. Moving forward, Standard Chartered aims to expand its network and solutions to support cross-border operations for global merchants, particularly in emerging markets. 

PayerMax secured licences from key regulatory bodies in markets such as Saudi Arabia, the UAE, Singapore, the Philippines, Thailand, Indonesia, and Hong Kong. The company also holds certifications from global banks and adheres to a strict risk management system to ensure transaction security and protect merchants' funds. 

The partnership between PayerMax and Standard Chartered highlights both companies’ efforts to advance technological innovation and regulatory adherence in cross-border payments, with a particular focus on the emerging market landscape. They plan to continue exploring new opportunities for collaboration to improve the payment experience for global merchants and consumers.