Standard Chartered has teamed up with Worldpay to bring its Straight2Bank Pay digital collections gateway for merchants to more than 30 new markets.
Straight2Bank Pay lets corporates offer their customers more digital payment options without needing multiple integrations and managing different collection accounts with providers across markets.
Currently available in about 20 markets, the service has seen transaction value more than double between 2021 and 2022. The deal with FIS-owned Worldpay will see the service grow its footprint across Asia, as well as enter into new markets across Europe, Middle East, UK and the US.
Philip Panaino, global head, cash, transaction banking, Standard Chartered, says: "With the global e-commerce market expected to reach USD8.53 trillion by 2026, businesses need to adapt at speed to both the evolving digital payments landscape as well as their consumers’ preferred payment options.
"Straight2Bank Pay was designed to tackle this challenge by allowing our clients to offer their customers more digital payment options without the need for multiple integrations and managing different collection accounts, and we’re delighted that our strategic partnership with Worldpay can further our reach to even more markets across the Bank’s footprint, as well as provide an expanded range of payment capabilities."