Standard Chartered Partners with Haier Pakistan for Digital Financial Services

Standard Chartered Partners with Haier Pakistan for Digital Financial Services


Standard Chartered Pakistan and Haier Pakistan have recently signed a strategic agreement aimed at digitizing Haier Pakistan’s value-chain and enhancing cashflow optimization.

Transforming Payments with Virtual Accounts

Standard Chartered digitizes Haier Pakistan’s payments, introducing virtual accounts for 1300 dealers in this collaborative effort. This transformative step enables dealers to make digital payments in real-time, round the clock.

API-Based Services for Real-Time Collection

Additionally, Standard Chartered is providing Haier Pakistan with an API-based service for real-time collection notifications. This functionality allows Haier to promptly release appliances and goods to their dealers, facilitating instant incentives for early payments.

Key Figures Present at Signing Ceremony

The signing ceremony witnessed the presence of Shiraz Hyder, Head of Transaction Banking, and Ali Haider Zaidi, Head of Global Subsidiaries from Standard Chartered Pakistan. From Haier Pakistan, Feng Xianfa (CEO), Zhang Hao (CFO), and Mohammad Faraz Khan (Director Finance) joined the ceremony.

Commitment to Industry Standards

Arslan Nayeem, Head of Client Coverage – Corporate Commercial and Institutional Banking (CCIB) at Standard Chartered Pakistan, emphasized the bank’s commitment to elevating industry standards. He stated, “We are committed to working closely with our clients to raise the bar on industry standards and empower them as we bank the business models of the future.”

Haier CEO Thanks Standard Chartered

Haier Pakistan’s CEO, Mr. Feng Xianfa, thanked Standard Chartered Pakistan for their support and exceptional digital-banking platform. With the ‘Virtual Account for Collection’ (VAC) solution and real-time Credit notification API, Haier can now instantly realize receivables. This digital solution optimizes financial resources, enhancing Haier Pakistan’s efficiency.

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