Standard Chartered has announced a partnership with Singapore-based Allinpay that will allow merchants in Hong Kong to accept payments in Singapore dollars via QR code.
The new partnership will enable Allinpay merchants to accept Singapore PayNow QR payments “without the need for additional technological investment, infrastructure integration or operational changes”.
The payment method is made possible with Standard Chartered’s omnichannel gateway Straight2Bank Pay and API-based FX pricing engine SCALE.
“It is timely to spearhead PayNow QR payments at Hong Kong merchants with the resumption of travel,” said Tay Tiong Hean, general manager, Allinpay.
He continued: “We are confident that this partnership will offer a real-time and seamless digital payment experience through Allinpay's integrated platform to truly meet our customers' needs for better cross-border payments, cost savings and mobile lifestyle.”
Hong Kong merchants which accept PayNow payments will not be subject to credit card transaction charges.
Ankur Kanwar, Head of Cash Products, Singapore and ASEAN, Standard Chartered Bank, commented: “By achieving this crucial milestone to accelerate the greater use of contactless cross-border payments, we’re laying the tracks for a whole new digital world of transactions.”
Latest News
-
Digital euro rollout could cost banks up to €6bn
-
Matthew Harvey appointed head of digital at NatWest Markets
-
b1Bank deploys agentic AI agents for daily workflows
-
Visa to accelerate advanced tech rollout with Prisma and Newpay acquisition
-
Societe Generale joins LSEG’s model marketplace as part of new venture
-
ClearBank poaches Uber exec to lead European growth as CEO
Creating value together: Strategic partnerships in the age of GCCs
As Global Capability Centres reshape the financial services landscape, one question stands out: how do leading banks balance in-house innovation with strategic partnerships to drive real transformation?
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories