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HSBC Qatar has introduced mobile payments and collections services for its personal and corporate clients, as part of its ongoing investment into digitizing banking services.
These recent updates will aim to enable greater financial inclusion for the unbanked sector and visitors in Qatar, which is consistent or closely aligned with the banking institution’s digital transformation strategy.
Abdul Hakeem Mostafawi, CEO of HSBC in Qatar, stated:
“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. 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.”
The new mobile payments and collections services aim to offer a more accessible and safer way to settle bills, transfer funds from person to person, and buy products from approved merchants.
Clients are able to carry out instant local transfers to pay bills and make payments to merchants or transfer funds to another individual via a QR code. The service is currently available 24/7 and will enable the instant transfer of money between different accounts.
Personal banking clients are now able to access this feature via their mobile banking app and use it for purchases from approved merchants, make utility bill payments and conduct transfers from one person to another.
Merchants may also benefit by signing up with HSBC on HSBCnet and obtaining the mobile collections services. This should allow corporates to offer yet another way to its clients to pay for their purchases, offer their sales force with an option to obtain payment for a service, and enable corporates to offer another way to clients to pay for their online purchases via a wallet app (instead of traditional payment methods like cash, checks, transfers or credit cards).
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