HSBC has partnered with Geidea, a Saudi-based fintech company to launch a new e-commerce digital payment platform, Omni Collect, in the UAE.
Omni Collect, available to corporate customers through HSBCnet, aims to simplify and streamline the collection of 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.
Geidea will integrate a merchant acquiring facility within Omni Collect, allowing HSBC’s business and corporate clients to access card receivables solutions and better understand their collections data.
The HSBC and Geidea partnership was unveiled at a signing ceremony attended by Mohamed Al Marzooqi, Chief Executive Officer of HSBC Bank Middle East in the UAE, and Abdullah AlOthman, Founder and Executive Chairperson of Geidea.
“The UAE is no exception to the global cashless trend, and we are seeing strong growth in online shopping and digital payments every year. HSBC’s Omni Collect will help businesses capitalise on that growth by offering them a simple way to collect payments faster, analyse customer payment 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,”
said Kyle Boag, Regional Head of Global Payment Solutions, Middle East North Africa and Turkey (MENAT), HSBC.
“Our mission is making payments and commerce technology accessible, affordable and intuitive for everyone. 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 license to offer a diverse set of merchant services that empowered us to join hands with global partners such as HSBC. This product will be a boost for all businesses as it facilitates and charts a clear view of growth in their operations across all business segments from emerging micro-enterprises to established multinational,”
commented Sailesh Malhotra, Geidea’s General Manager – GCC, on the collaboration.
HSBC clients in the UAE with international operations will be able to scale their businesses’ 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.
“We are seeing increased demand across retailers, consumer brands, healthcare, pharmaceuticals, and shipping and logistics sectors, for fully integrated and comprehensive payment solutions, to grow their e-commerce business. Omni Collect is one of many ways we are investing in the UAE market to meet our customers’ digital needs,”
added Boag.
