HSBC rolls out new multi-currency payment platform

Friday 10 February 2023 15:07 CET | News

Multinational banking group HSBC has unveiled a new one-stop digital payment solution, HSBC Merchant Box, for SMEs in Hong Kong.


The solution simplifies international payments across regional and global ecommerce platforms for SMEs and makes it possible to ‘receive like a local’ at real-time exchange rates.

HSBC Merchant Box builds on the Bank’s extensive global payment network and digital infrastructure to help SMEs capture local and international digital sales. Quarantine-free travel between Hong Kong and mainland China and closer economic integration in the Greater Bay Area (GBA) will combine to support merchandise trade growth.

Multinational banking group HSBC has unveiled a new one-stop digital payment solution, HSBC Merchant Box, for SMEs in Hong Kong.

Stimulating commerce between Hong Kong and mainland China

Starting from the time of the announcement, HSBC Merchant Box is available for selected HSBC commercial customers through Business Internet Banking and will be extended to all customers in Hong Kong in the coming months.

HSBC’s officials said that cross-border ecommerce has emerged as a driving force of mainland China’s external trade, recording year-on-year growth of nearly 12% in export value in 2022. As a regional trade hub in the GBA and a gateway to global markets, Hong Kong is well placed to capitalise on the market potential. At HSBC, they will continue to invest in their capabilities to meet the evolving business needs of ecommerce merchants along their growth journey.

Enabling payments in multiple currencies with a digital wallet

Through HSBC Merchant Box, customers can activate HSBC Global Wallet to collect payments in AUD, CAD, EUR, GBP, SGD, and USD in as soon as a few minutes. They can choose to hold the funds in HSBC Global Wallet or transfer to their Business Integrated Accounts anytime. Payers can send money easily to HSBC Merchant Box users using local addressable information.

According to HSBC, simple and cost-efficient payment management solutions are key to the success of small- and medium-sized ecommerce merchants. HSBC Merchant Box reduces the complexity of cash flow management for SMEs by giving them speed, control, and visibility on their international receivables and payments. The group will continue to leverage its global payment strength to support its customers in Hong Kong and the wider Greater Bay Area to expand regionally or globally.

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Keywords: merchants, ecommerce, digital wallet, payment methods, SMEs
Categories: Payments & Commerce
Companies: HSBC
Countries: China, Hong Kong
This article is part of category

Payments & Commerce


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