Financial institution Standard Chartered introduces its Payouts-as-a-Service solution at the SFF 2022 event.
In the bustling atmosphere of the Singapore Fintech Festival, Standard Chartered unveiled its Payouts-as-a-Service (PaaS) solution on the first day of the event. The Head of Cash, Transaction Banking at Standard Chartered, Philip Panaino, highlighted that the PaaS solution is designed to meet evolving embedded payments needs.
Aayush Singhania, Head of Product and Partnerships at Tazapay, explained that PaaS allows for the creation of transaction-level payment contracts aligned with the customer journey. These contracts are escrow-protected for secure payments and are suitable for marketplace payouts.
PaaS is available in five major e-commerce hubs: India, Malaysia, Singapore, the United Arab Emirates, and the United Kingdom. Clients can integrate the bank's PaaS APIs into their digital commerce platforms, providing them with the ability to manage one-to-many payments seamlessly.
Using PaaS, clients can provide transaction details in real-time and set up parameters for the bank to produce payment contracts. This solution contextualises and configures payment contracts to meet desired business outcomes, as Panaino mentioned.
The integration of PaaS eliminates the need for separate payment instructions from clients or their counterparties. It also results in significantly reduced payment administration overhead and time.
Moreover, PaaS enables clients to embed and automate complex payout constructs such as split, scheduled, conditional, or clubbed payments. This feature is particularly valuable for businesses dealing with intricate payment structures.
In a collaborative effort, Ant International, Standard Chartered, and Swift have integrated Standard Chartered's API-first programmable bank-grade payment solution. This integration has enabled live trials of a bank-to-wallet payment solution supported by Alipay+ and using Swift’s infrastructure as of August 2025. Standard Chartered claims to be the first transaction bank to introduce an API-first programmable bank-grade payouts solution.
However, no new information about the benefits of using PaaS, such as reduced payment administration overhead and time, was provided during the event. Similarly, no new details about the integration capabilities of PaaS with digital commerce platforms or the elimination of separate payment instructions were disclosed.
Despite these gaps in information, the PaaS solution from Standard Chartered promises to streamline payment processes and cater to the evolving needs of businesses in the e-commerce sector.
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