Standard Chartered has extended its collaboration with Visa by integrating with Visa Direct to improve its cross-border, low-value global disbursements.
The move allows the bank to direct payments to the beneficiary bank accounts through the most efficient path, maximising transaction success and reducing costs. This will happen using local low-value payment systems such as domestic ACH and instant payment rails. Low-value flows, including P2P, C2B, B2C, and low-value B2B, accounted for 10% of the approximately USD 179 trillion in global cross-border payments in 2204Yet, these low-value flows make up almost one-third of the total revenue pool.
Both financial institutions will focus on meeting the needs, preferences, and demands of customers in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry.
Optimising lower-value cross-border payments
The solution currently supports multiple currencies, with plans to extend the range further in the future. The expansion reflects Standard Chartered’s wider cross-border Instant Payments future product strategy. Utilising Visa Direct’s network, the bank focuses on strengthening its SC PrismFX and low-value global disbursements proposition, offering clients fast and reliable cross-border payment solutions across markets.
The partnership initially started in 2024, when Standard Chartered allied with Visa to optimise cross-border payments and join its B2B Connect network and become a new settlement partner. The Visa B2B Connect is a multilateral payment network that was developed to deliver faster, frictionless, and secure A2A cross-border payments for its customers and corporate clients. The network was launched for users of Standard Chartered Singapore, with more entities being expected to be added in the following months. The solution expanded and optimised the bank’s existing suite of payment services, with a priority set on facilitating faster and more cost-effective B2B transactions across borders and markets.
