In collaboration with Saudi-based FinTech company Geidea, HSBC has introduced its latest e-commerce digital payment platform, Omni Collect, in the UAE.
Through this partnership, Geidea will integrate a merchant acquiring facility into Omni Collect, granting HSBC’s business and corporate clients access to the card receivables solution.
This integration aims to provide clients with a deeper understanding of their collections data, enhancing their payment processing capabilities.
Kyle Boag, Regional Head of Global Payment Solutions for the Middle East, North Africa, and Turkey (MENAT) at HSBC, emphasized the significance of Omni Collect in facilitating businesses’ growth.
Boag stated, “HSBC’s Omni Collect will help businesses capitalise on that growth by offering them a simple way to collect payments faster, analyse customer payments behaviour and spot trends to make informed business decisions.
Our strategy is to digitise the bank at scale, so that we can innovate faster for customers, and our partnership with Geidea is important in advancing this transformation agenda.”
Omni Collect, accessible to corporate customers via HSBCnet, aims to simplify and streamline the payment collection process for businesses selling goods and services across various payment channels, including credit and debit cards, as well as e-wallets like Apple Pay and Samsung Pay.
Through integration with clients’ e-commerce and accounting solutions via application programming interface (APIs), Omni Collect enables real-time data flow.
This functionality empowers businesses to monitor transactions online, consolidate reporting across different payment methods, and obtain a unified view of their daily transactions.
Sailesh Malhotra, Geidea’s General Manager for the GCC, expressed the company’s commitment to making payments and commerce technology accessible and user-friendly.
Malhotra highlighted the significance of the partnership with HSBC, underscoring Geidea’s reliability and scalability in delivering innovative payment solutions. He added, “We have been granted by the UAE Central Bank the license to offer a diverse set of merchant services that empowered us to join hands with global partners such as HSBC.”
HSBC clients in the UAE with international operations will benefit from the scalability of Omni Collect across multiple markets in Asia and Europe, facilitating seamless integration and payment processing.
Currently available in various countries including the UK, Australia, India, mainland China, and more, Omni Collect offers a comprehensive solution for businesses operating across diverse geographical regions.
