Enhanced functionality and new cash management partnership amplify Checkout.com’s impact in the United Arab Emirates.
By collaborating with Standard Chartered, Checkout.com, a worldwide payments service provider, has enhanced its functionality and performance for its merchants in the United Arab Emirates. As a result, Standard Chartered will serve as the cash management bank for Checkout.com.
The cooperation integrates payment methods through the use of technology. Additionally, Standard Chartered will provide the infrastructure needed to support Checkout.com as it moves into its next stage of expansion throughout the Middle East.
Moreover Wolfgang Bardorf, Checkout.com’s group treasurer, said, “This partnership marks a sustained investment by Checkout.com to streamline operational complexity in the region and bring increased performance and flexibility that benefit our merchants.” As the first international payments provider to receive an acquisition license in the UAE, we are pleased to work with Standard Chartered.
The following will enhance the client experience:
- providing thorough coverage across multiple currencies
- prolonging the deadlines for funding,
- improving the management of liquidity in a complicated account structure
- execution of foreign exchange
- clear-cut pricing structures
- automated settlements that are linked to clearinghouse systems.
The statement “This partnership signifies our commitment to shaping the future of commerce, where innovation and trust converge to redefine the payments industry across the region.” Was added by Motasim Hasan Iqbal, head of transaction banking sales at Standard Chartered in Africa and the Middle East.
The partnership uses an advanced structure. It includes cross-border direct debits, longer funding periods, various currency accounts, and proprietary treasury funding. Additionally, it provides access to Standard Chartered’s network for immediate clearing. This takes advantage of the bank’s connection to the regional market to enable speedier high-value payments.
Finally the collaboration marks a critical turning point in the development of payment services in the Middle East and the United Arab Emirates. Both organizations are dedicated to excellence and innovation.
