The announcement is part of HSBC’S strategy of broadening the range of electronic payment mechanisms available through its Global Disbursements service, aimed to streamline cross-border payments by centralising all outgoing transactions into a single payment process.
The HSBC Global Disbursements service already allows customers to reach beneficiaries globally in 136 currencies through domestic and international payment schemes while also enabling the status of payments to be tracked online.
Clients of HSBC’s Global Disbursements service will now be able to use PayPal in their payments operation in cases where PayPal is a pay-out preference.
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