30 May 2017
register for the webinar

Standard Chartered connects corporate customers to WeChat

17 February 2017  |  9884 views  |  0 Standard Chartered branch sign 2

Standard Chartered has aligned its cash management offering with WeChat's online payment gateway, giving corporate merchant customers access to 800 million consumers in China.

The QR based connection with WeChat Pay will help Standard Chartered's Chinese clients harness the growth in e-commerce and alternative payment methods, says the bank, a market which is expected to reach $2.4 trillion globally by 2019.

Sam Xu, head, Transaction Banking, Standard Chartered China says: “The newly launched service offers a single WeChat gateway connected to multiple online payment channels, providing a one-stop shop for corporate clients’ online portals. It simplifies the work of corporate treasurers with fewer accounts to manage, while effectively improving cash flow and working capital.”

In addition to simplifying receivables management, the TenCent connection allows for corporate merchants to customise the online checkout and secure transactional data.

Gautam Jain, global head, digitisation and client access, Transaction Banking, Standard Chartered says merchants will also be able to save on technical equipment as the payment QR code can be easily generated on a webpage, printed material or an email, while reaching more consumers on the go.

"This demonstrates our commitment to work with leading industry players to offer innovative digital solutions in a continuously evolving landscape,” he adds.

First launched in China, Jain says Standard Chartered will be looking to expand the service to other markets across its footprint in 2017.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Standard Chartered debuts API sandbox for corporate community

Standard Chartered debuts API sandbox for corporate community

10 February 2017  |  8816 views  |  1 comments | 14 tweets | 11 linkedin
Standard Chartered launches personalised investment tool for affluent clients

Standard Chartered launches personalised investment tool for affluent clients

15 November 2016  |  5761 views  |  0 comments | 1 tweets | 18 linkedin
Standard Chartered and Fidelity to SuperCharge top startups

Standard Chartered and Fidelity to SuperCharge top startups

07 November 2016  |  4693 views  |  0 comments | 5 tweets | 4 linkedin
Standard Chartered hails its 'Uber Moment'

Standard Chartered hails its 'Uber Moment'

04 October 2016  |  6446 views  |  0 comments | 1 tweets | 5 linkedin
Standard Chartered commits to a biometric future; Qatari bank reads finger veins at ATMs

Standard Chartered commits to a biometric future; Qatari bank reads finger veins at ATMs

15 August 2016  |  11189 views  |  0 comments | 19 tweets | 15 linkedin
Standard Chartered launches global video banking push

Standard Chartered launches global video banking push

21 July 2016  |  10406 views  |  0 comments | 6 tweets | 15 linkedin
Standard Chartered to spend $3 billion on global tech hubs

Standard Chartered to spend $3 billion on global tech hubs

08 July 2016  |  10356 views  |  0 comments | 15 tweets | 10 linkedin
Standard Chartered opens Singapore innovation lab

Standard Chartered opens Singapore innovation lab

23 March 2016  |  11747 views  |  0 comments | 12 tweets | 17 linkedin
China's Tencent hints at huge WeChat mobile payment volumes

China's Tencent hints at huge WeChat mobile payment volumes

18 March 2016  |  10953 views  |  0 comments | 19 tweets | 19 linkedin
Standard Chartered PE arm and Goldman Sachs invest $28m in Vietnamese mobile money firm

Standard Chartered PE arm and Goldman Sachs invest $28m in Vietnamese mobile money firm

17 March 2016  |  6402 views  |  0 comments | 9 tweets | 2 linkedin
Standard Chartered goes global with 'bank on an iPad'

Standard Chartered goes global with 'bank on an iPad'

08 March 2016  |  11109 views  |  1 comments | 14 tweets | 28 linkedin
WeChat launches mobile wallet in South Africa

WeChat launches mobile wallet in South Africa

26 November 2015  |  11049 views  |  0 comments | 25 tweets | 16 linkedin
Tencent's WeBank in $1 billion fund drive; WeChat inks money transfer deal with Western Union

Tencent's WeBank in $1 billion fund drive; WeChat inks money transfer deal with Western Union

18 November 2015  |  5847 views  |  0 comments | 10 tweets | 2 linkedin
Standard Chartered to axe 15,000 jobs, move more business online

Standard Chartered to axe 15,000 jobs, move more business online

03 November 2015  |  6882 views  |  0 comments | 9 tweets | 10 linkedin

Related company news

 

Related company information

Standard Chartered Bank

Related blogs

Create a blog about this story (membership required)
visit vasco.com/news/PSD2-compliant-solutionsvisit www.ebaday.comvisit www.response.ncr.com

Who is commenting on payments?

Top payments topics

Most viewed Most shared
BBVA launches Open API marketplaceBBVA launches Open API marketplace
15260 views comments | 54 tweets | 82 linkedin
R3 raises $107mR3 raises $107m
8152 views comments | 17 tweets | 16 linkedin
Bank of America preps data sharing serviceBank of America preps data sharing service
8125 views comments | 21 tweets | 19 linkedin
Digital payments to drive social justiceDigital payments to drive social justice
8099 views comments | 25 tweets | 12 linkedin
TransferWise launches multi-currency business bank accountsTransferWise launches multi-currency busin...
7984 views comments | 13 tweets | 22 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job