​PayerMax and Standard Chartered Join Forces for Cross-Border Payment Solutions

​PayerMax and Standard Chartered have announced a new partnership aimed at addressing the complexities of cross-border payments for global brands. This collaboration seeks to enhance the payment landscape in emerging markets by integrating robust compliance measures and technological advancements.

As businesses expand internationally, the need for reliable payment solutions becomes critical. PayerMax is leveraging Standard Chartered's extensive global network and local market insights to improve its offerings. The integration of PayerMax's solutions with Standard Chartered's FX Scale product facilitates connections to accounts in various countries through hubs in Hong Kong and Singapore.

The two firms have also established technical links across several nations using host-to-host (H2H) connections and APIs. This setup allows for multi-currency virtual accounts and batch payment processing, which will assist merchants in managing diverse currency accounts and tracking fund flows by channel and currency.

Wang Hu, Co-founder and President of PayerMax, noted that the collaboration aims to create a more effective payment network while reducing costs and processing times for transactions. This partnership also allows for centralized treasury management for merchants.

Luke Boland, Global Head of FinTech at Standard Chartered, described the relationship as mutually beneficial, highlighting the rise of payment technology firms in the cross-border payments sector. He pointed out that the partnership will utilize APIs to connect payment processing with foreign exchange capabilities, enabling real-time local payments. Boland emphasized that PayerMax's licensing in Southeast Asia and the Middle East complements Standard Chartered's operations.

PayerMax has secured licenses from various regulatory authorities in key markets, including Saudi Arabia, the UAE, Singapore, the Philippines, Thailand, Indonesia, and Hong Kong, alongside certifications from international banks.