The new payments system will help the users to make real-time payments of bills and also transfer money to other users as well. The merchants will have similar features along with the capability to watch all their deposits/withdrawals/transactions at the click of a button. Payments can also be made for purchases through digital wallets instead of using cash or cards.
As representatives say, HSBC aims to be the bank in your pocket, and with the introduction of mobile payments and collections on their digital banking channels, the bank is a step closer to making banking services faster, easier, and more secure.
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