HSBC launches Omni Collect to ease payment collection

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HSBC launches Omni collect to provide a one-stop solution to multiple payment options for businesses to simplify the payment collection through digital mode.

Adapting to the change quickly is the need of the hour as the businesses gear up for recovery amidst COVID-19 pandemic. HSBC launched Omni collect to provide a one-stop solution to provide multiple payment options on a single platform. This platform aims to simplify the way businesses collect payments through various digital modes.

Various digital payment modes can be offered to the customers with this platform. With a single Application Programming Interface connectivity, HSBC will be able to support both online and in-store purchases across multiple providers.

The key features of Omni collect are integrated collection solutions with partnered aggregators, centralized digital collections management, a comprehensive report including Customer Reference Number (order ID) and transaction amount, real-time connectivity with Application Programming Interface for immediate collection and transaction status inquiry, and data for all transactions like card, mobile wallet, etc.

HSBC India`s first client to go live with Omni collect solution is Advanced Travel Partners International (ATPI) who has already started receiving payments through the online payment gateway. Contactless payments by using online payment options using cards will be enabled to the clients of Advanced Travel Partners International with the help of Omni pay.

Omni collect will help the businesses to easily adapt to changes in consumer spending by streamlining and simplifying the way businesses collect digital payments for goods and services.

A comprehensive view of payment collections across different channels like bank transfers, credit card payments, and e-wallet transactions are available to corporates through Omni pay.

According to Mr. Sidddharth Rungta, who is the head of global liquidity and cash management of HSBC India, Omni collect will help build a smarter business, enhance the client experience, automate everyday operations, and help proactively the business to transform from paper to digital as adapting quickly to change in the need of the hour as businesses gear up for recovery amidst COVID-19 challenges.

Omni collect is an important addition in the electronic receivables suit of HSBC India, which will be also available in Hongkong, Indonesia, Singapore, Malaysia, Thailand, mainland China, and Vietnam.

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