The financial institution is debuting the transaction and collection service for corporate customers.
HSBC Qatar has announced the rollout of a new mobile payments service that it is making available to its personal and corporate customers.
The company explained that the feature was launched as a part of the payment digitizing effort.
The new mobile payments service will also be simplified in order to target the country’s unbanked sector in addition to visitors to Qatar. This will align the bank’s strategy with the country’s regulator’s ambitions.
The second part of the rollout, the mobile collection services, provides a new and more secure method of completing transactions. This includes convenient options for transferring money, paying bills, and purchasing products and services from merchants. According to the bank’s news release on the subject, customers will have the option to use QR codes to transfer money to another person or to complete instant bill payment transfers.
The new mobile payments service will be available through personal banking accounts through the app.
The HSBC Qatar app will make the new features available to personal banking customers through the mobile app. This will also be the tool needed for purchasing products and services from registered merchants.
Merchants will also be able to use the app to collect payments by registering with the HSBC service. In that way, businesses will obtain a new online opportunity for selling their products and for accepting transaction methods their customers will want to use. This will help to reduce their reliance on conventional transaction methods such as cash and plastic cards.
“HSBC aims to be the bank in your pocket, and with the introduction of mobile payments and collections on our digital banking channels, we are another step closer to making banking services faster, easier and more secure,” explained HSBC Qatar CEO Abdul Hakeem Mostafawi in the news release announcing the mobile payments service. “Our digital strategy is all about improving customer experiences to suit our customers’ increasingly digital lives. The Qatar Central Bank is at the forefront of continuous investment in innovative digital banking services and an enabler of progressive change.”