Standard Chartered Vietnam launches 24/7 instant interbank transfers

Standard Chartered Vietnam has launched two new services to enhance convenience

With this service, clients will have inward funds credited to their Standard Chartered account instantly while their outward transactions will be processed with speed for an immediate transfer. Beneficiary account details will be validated upfront to ensure transactions are accurate and secure. Clients will also receive instant notifications on inward and outward transactions for greater cash flow visibility. Corporate clients can perform transactions on the bank’s Straight2Bank platform and individual clients, who will enjoy a fee waiver, can make fund transfers on its Online Banking portal or Mobile Banking app.

Along with its 24/7 instant interbank transfer service, Standard Chartered Vietnam has also launched the VNPAY QR Code payment feature on Straight2Bank Pay, its award-winning digital collections gateway for corporates, aimed at helping clients enhance their collections efficiency. By generating a dynamic or static VNPay QR code, which is compatible with the mobile banking apps of major local banks, businesses can collect funds from their consumers for in-store or payment on delivery scenarios, while consumers have the convenience to pay by simply scanning a QR code with their mobile device. The corporates’ in-store staff or delivery agent will also be notified of the transaction status in real-time.

Straight2Bank Pay is an innovative proposition which enables Standard Chartered’s corporate clients to digitise collection flows through the acceptance of common payment methods from buyers at the point of payment check-out across the merchants’ sales channels. The platform is currently accepting a wide range of payment methods in Vietnam, including MoMo e-wallet, VNPAY QR Code, domestic and international cards, and bank transfers, among others.

Nirukt Sapru, CEO Vietnam and ASEAN & South Asia Cluster Markets, Standard Chartered Bank, said that, “Our aspiration is to become a truly digital bank with a human touch. The newly-launched digital capabilities on our award-winning global payments platform SCPay is part of our relentless efforts to provide clients a more convenient and seamless experience in banking with Standard Chartered. We continue to invest in the technology space to provide our clients with more efficient ways to manage their payments and collections needs.”

Besides Vietnam, Standard Chartered has rolled out the SCPay fast payments service in Hong Kong and Singapore, with a planned launch in several other markets, and deployed Straight2Bank Pay in eight other markets including Singapore, Malaysia, Thailand, China, Hong Kong, India, Bangladesh, and Kenya. Corporate clients, especially multi-national companies, looking for digital collections solutions in these markets can benefit from having one seamless technical integration with Straight2Bank Pay and SCPay for access to common payment methods in those markets.

Standard Chartered is the leading international bank in Vietnam, which has been named the Best Digital Consumer Bank in Vietnam (fourth consecutive year) and the Best Cash Management in Vietnam in 2020 by Global Finance.