Standard Chartered Bank Thailand has announced a partnership with Advanced mPAY Co.Ltd. to expand its Straight2Bank Wallet platform to corporate clients 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.
Supreecha Limpikanjanakowit, Managing Director, Advanced mPAY, commented, “Today mPAY, a one-stop mobile financial transaction service facilitating AIS customers, is pleased to take the service to the next level with a leading partner like Standard Chartered Bank Thailand. Employing modern innovations to enhance transaction efficiency, mPAY firmly believes this partnership will set new standards with better speed and precision between the mPAY platform and Straight2Bank systems”.
Gautam Jain, Global Head of Client Access, Transaction Banking, Standard Chartered, added, “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.
Standard Chartered will also be expanding the offering to other relevant footprint markets in Asia, Africa and the Middle East.