Standard Chartered expands partnership with Tazapay

Standard Chartered has announced an expanded partnership with Tazapay, a global payments platform, to provide enhanced payment and commerce experiences. The collaboration aims to offer curated financial services on B2B platforms and cater to the growing demand for marketplace-specific financial services.

Facts

  • Standard Chartered and Tazapay have formed a global partnership to deliver optimized payments and commerce experiences on B2B platforms.
  • This partnership builds upon a memorandum of understanding signed between the two organizations in May 2021.
  • The digital Escrow-as-a-Service (EaaS) was successfully launched on Proxtera, a Singapore-based cross-border marketplace, as a pilot engagement.
  • B2B marketplaces are the fastest-growing channel in B2B e-commerce, with sales doubling from USD 56 billion in 2021 to USD 112 billion last year.
  • Standard Chartered and Tazapay’s proposition enables global marketplaces and e-commerce merchants to accept local payments in over 70 markets through a single API (Tazapay Checkout).
  • Tazapay Checkout includes buyer protection features that enhance commercial trust, such as document verification and customized payment release upon completion of transactions.
  • The partnership also allows B2B marketplaces to onboard third-party sellers across 170 markets, and Tazapay can leverage Standard Chartered’s banking services.
Laura M
Laura M
Laura is a financial reporter, editor, and researcher with a particular interest in fintech innovation, capital markets, and the evolving global banking landscape.

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