Standard Chartered taps Wise Platform for cross-border payment service upgrade
Standard Chartered has selected Wise Platform, the global payments infrastructure from money transfer firm Wise, to enhance the company’s cross-border payment service, SC Remit.
Standard Chartered joins Wise Platform’s growing client list
Through this collaboration, Standard Chartered says SC Remit customers in Asia and the Middle East will be able to transfer funds internationally “in a matter of seconds” in 21 currencies, including EUR, GBP, USD, CAD, SGD, JPY, and HKD.
The banking group says it intends to connect with Wise’s infrastructure via the Wise Platform API “over the coming quarters, with a further expansion on the horizon both in the number of currencies supported as well as more markets where Standard Chartered operates”.
Founded in 2011, Wise claims to serve 16 million customers globally and processes £9 billion in international transactions monthly through over 65 regulatory licenses and six direct connections to payment networks.
Last month, the money transfer firm expanded its network by securing approval to join Japan’s domestic payment system, Zengin. This week, it was also granted access to the Philippines’ real-time payment system, InstaPay.
Standard Chartered adds to Wise’s expanding roster of banking partners, which includes Brazil’s Nubank, UK-based Allica Bank, and Japan’s GMO Aozora Net Bank.
