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HSBC partners with Geidea

Wednesday 29 May 2024 10:13 CET | News

HSBC has partnered with Geidea to introduce the new Omni Collect ecommerce payment solution in the UAE.

 

Accessible to corporate clients through HSBCnet, the Omni platform is drafted to untangle the way businesses gather digital payments for products and services sold on credit, debit cards, and e-wallets. 

HSBC collaborates with Geidea to launch Omni Collect ecommerce payment solution in the UAE.

Geidea integrates a merchant feature within Omni Collect, allowing all HSBC business and corporate clients access to the card receivables solution, giving them a better understanding of their collections of data. Businesses can track online transactions, combine reports from various payment methods, and have a cohesive overview of their daily transactions.

HSBC customers in the UAE, who operate internationally, can scale their business by using Omni Collect across markets like Asia and Europe, and vice versa. The Omni Collect service is accessible in the UK, Australia, India, mainland China, Hong Kong, Indonesia, Malaysia, South Korea, Japan, Singapore, Thailand, and Vietnam.


Fintech in UAE

Fintech has evolved rapidly in the UAE, becoming a vital part of the economy. Government initiatives and financial incentives promoted digital innovation. This environment allowed fintech startups and industry leaders to thrive, leading to advancements in financial services. The UAE aims to be a leading global fintech hub, encouraging talent and investments with a vision of a cashless society. 

Moreover, the progression of payment systems relies heavily on collaboration among public and private sectors, regulatory bodies, commercial banks, and other entities in the market. This synergy is crucial for fostering innovation, ensuring security, and enhancing efficiency across the financial landscape. By working together, these stakeholders can develop robust frameworks that address emerging challenges such as cybersecurity threats, digital fraud, and the need for seamless cross-border transactions. As the world becomes increasingly digital, the demand for real-time payments and mobile banking solutions continues to surge.

These advancements are not only fostering greater efficiency in financial transactions but also enhancing the security and convenience for consumers and businesses alike. By embracing these technological improvements, the Middle Eastern nations are positioning themselves as leaders in the global digital economy.

Source: Link


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Keywords: partnership, ecommerce, digital payments, credit card, e-wallet
Categories: Payments & Commerce
Companies: Geidea, HSBC
Countries: United Arab Emirates
This article is part of category

Payments & Commerce

Geidea

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HSBC

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