StanChart and Advanced mPAY team up for receivables proposition in Thailand

 

The collaboration will enable the bank’s corporate clients to effortlessly collect payments, fees or contributions from mPay wallet users or via mPAYSTATIONs through a real-time connectivity.

Straight2Bank Wallet will significantly lower operating costs and risks associated with managing cash, shorten the debt collection period and ultimately help to boost efficiency in working capital management for Standard Chartered’s corporate clients.

Gautam Jain, Global Head of Client Access, Transaction Banking, Standard Chartered, said “We are privileged to partner with Advanced mPAY in the drive towards advancing electronic payments in Thailand, a key country in our footprint markets. Client centricity remains a strategic priority for the Bank, and we continue to build on our expertise to support clients in capturing the opportunities presented by the global move towards a cashless society.”

Straight2Bank Wallet collections will be available in Thailand in the third quarter of the year, as part of a global rollout of the platform. A payments feature, which will allow the Bank’s corporate clients to directly make electronic payments to individuals’ mobile wallets, is slated to be integrated in the near future.