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July 15, 2019

HSBC’s Payme for Business introduces new functions to accelerate payments speed

HSBC’s PayMe for Business in Hong Kong has launched static PayCodes and PayLinks to enhance the speed of payment for businesses.

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  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
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PayCode will enable businesses to provide the customers with a unique, permanent code to scan and carry out the payment.

The code is free from expiry, offering merchants greater flexibility while accepting online and offline payments.

On the other hand, PayLinks allows the merchants to send payment requests to online customers. These requests will redirect the customers to the merchant’s payment page within the PayMe app.

Additionally, the PayMe for Business users can order a personalised kit with instructions to use new functionalities.

Launched in March this year, PayMe for Business allows businesses to collect payments through mobile and digital channels. It has no limit to the transaction amount and allows businesses to instantly transfer money to their HSBC Business Banking account.

Furthermore, the PayMe for Business offers merchants deeper insight into their businesses. They can also export transaction histories into compatible business accounting software.

Hong Kong HSBC head of business banking Daniel Chan said: “We know instant access to payments is critical for small businesses, which is why we’re introducing permanent PayCodes and PayLinks to our PayMe for Business customers.

“These new features allow merchants to facilitate faster payments in-store and online, saving time previously required to generate dynamic QR codes for each payment.”

Free Report
img

Prepare for changes in the Payments market

 The Payments market has seen drastic changes in the past few years, with this only expected to continue. What does your company need to do to prepare for what’s to come? GlobalData’s Payment Trends for 2022 report explores the key trends in technology, consumer habits, and regulations shaping the market. We also identify the leading companies in this changing market, giving you a competitive market outlook. This report covers the impact of:
  • ESG
  • E-commerce
  • Mobile payments
  • Alternative payment rails (Real-Time Payments, Blockchain, BNPL)
  • Fraud & Cybersecurity
  • Regulations
Download the report now to learn essential strategies to maximize your growth in the face of rapid change.
by GlobalData
Enter your details here to receive your free Report.

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