Estimated reading time: 2 minutes

HSBC has introduced its new e-commerce digital payment platform, Omni Collect, in the UAE in collaboration with Saudi-based FinTech company, Geidea.

Through this partnership, Geidea will integrate a merchant acquiring facility within Omni Collect, enabling all HSBC business and corporate clients to access the card receivables solution, thereby gaining a better understanding of their collections data.

Kyle Boag, Regional Head of Global Payment Solutions, Middle East North Africa and Turkey (MENAT), HSBC, said, “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.”

Available to corporate customers via HSBCnet, Omni Collect is designed to simplify and streamline the way businesses collect digital payments for goods and services sold across multiple payment channels, including credit and debit cards, and e-wallets such as Apple Pay and Samsung Pay.

HSBC’s Omni Collect is integrated into clients’ e-commerce and accounting solutions directly via application programming interface (APIs), enabling real-time data flow. This allows businesses to monitor transactions online, consolidate their reporting across different payment methods, and have a unified view of all their daily business transactions.

Sailesh Malhotra, Geidea’s General Manager – GCC, said, “Our mission is making payments and commerce technology accessible, affordable and intuitive for everyone and this partnership is another testament to our reliability and ability to scale as we deliver on that commitment. We have been granted by the UAE Central Bank the licence 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 be able to expand their integration with Omni Collect across multiple markets in Asia and Europe, and vice versa. Omni Collect is available in the UK, Australia, India, mainland China, Hong Kong, Indonesia, Malaysia, South Korea, Japan, Singapore, Thailand, and Vietnam.