Following Standard Chartered’s first edition of Guide to Payment Regulations, which was launched last September and outlines the prevailing regulatory frameworks and related licensing schemes for payments and e-money services, the bank has launched a second edition that covers eight additional markets: Bangladesh, Nigeria, the Philippines, Saudi Arabia, South Africa, the United Arab Emirates, Indonesia, and Vietnam.
The latest edition also builds on the eight Asian markets (Mainland China, Hong Kong, India, Malaysia, South Korea, Thailand, Taiwan and Singapore) covered in the initial guide.
“Today’s rapidly evolving world of digital payments – a result of the increasing digitalisation of business models and changing consumer preferences – has led to the update and introduction of new regulations by regulators to keep pace with this growth and ensure a continued resilience and security in the overall financial ecosystem,” said Philip Panaino, Global Head of Cash at Standard Chartered. “We understand that it can be challenging for corporates looking to expand internationally to navigate the diverse regulatory payment and e-money guidelines, and the positive feedback we have received from our clients and external parties who have downloaded the first edition of our guide is testament to the value add it has delivered. We are delighted to have again collaborated with Allen & Overy to introduce a second edition today that adds to the list of markets covered, and hope that it will similarly interpret some of the most critical areas that corporates and fintechs consider when evolving business models or expanding to new markets.”
