HSBC Partners With Saudi’s Geidea to Launch Digital Payment Platform

HSBC Bank has partnered with Saudi-based fintech startup Geidea to launch Omni Collect, a new e-commerce digital payment platform.

Available to business and corporate clients via HSBCnet, the new platform will give users a more comprehensive understanding of their own collections data through Geidea’s card receivables technology. Using application programming interfaces (APIs), Omni Collect allows businesses to monitor activity online and in real-time.

“Our mission is making payments and commerce technology accessible, affordable and intuitive for everyone,” Sailesh Malhotra, Geidea’s General Manager, says. “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 multinationals.”

Omni Collect provides a simple way for merchants to collect payments faster, analyse patron payment behaviour and spot trends, thus helping them to make more informed business decisions. The platform intends to lead the charge to digitise banking on a grand scale, and to innovate and advance corporate and consumer banking.

“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,” Kyle Boag, MENAT Regional Head of Global Payment Solutions at HSBC, says. “Omni Collect is one of many ways we are investing in the UAE market to meet our customers’ digital needs.”

Omni Collect is available to merchants in the UK, Australia, India, mainland China, Hong Kong, Indonesia, Malaysia, South Korea, Japan, Singapore, Thailand and Vietnam.