New mobile banking payments service for corporates

HSBC has enhanced its mobile banking service in a continued commitment to help businesses streamline their banking needs.

The new offering will allow customers to initiate payments to existing beneficiaries across the world and adds to the extended suite of mobile solutions the bank already provides for its customers.

Commenting on the HSBCnet offer, Natasha Patel, regional head of global payments and cash management for HSBC Middle East and North Africa, said, “As electronic banking continues to revolutionise business, banking and payment systems are also rapidly changing. Corporations in the Middle East increasingly have to adapt to this changing environment and, as a result, need to have access to the most advanced electronic platforms available.

“The launch of our HSBCnet mobile banking option in 2011 is a strong example of this. About $10bn worth of payments have been authorised globally since its launch and more than $393m worth of payments were authorised in 2012 in the Middle East and North Africa region.

“We intend to continue adapting these services, which will result in the provision of an even wider range of banking services for customers on-the-go. Launching the ability to initiate payments will allow customers to leverage the scale of the bank by conducting transactions in countries across the world from the palm of their hands.

“Going forward, we see significant potential in the extended use of mobile devices by corporate treasurers in the region and globally. These devices will streamline the entire supply chain. As smartphones and tablets evolve, mobile banking will combine richer, more intelligent interfaces with services that make use of the devices’ ability to recognise the location of the user. This will have enormous value for risk management, trade, high value payments and FX services.”