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April 24, 2024

HSBC Philippines pioneers API-based e-commerce payments with Omni Collect

HSBC Philippines, a subsidiary of British banking giant HSBC Holdings Plc, launched Omni Collect, an application programming interface (API)-based payment solution designed for e-commerce businesses.

Omni Collect allows businesses to accept payments through various channels, including online banking transfers, e-wallets, and QR code transactions, streamlining the reconciliation process and reducing costs associated with managing multiple payment providers.

“We have seen significant growth in e-commerce in the Philippines, especially during the pandemic, resulting in an exponential shift in the adoption and use of digital payments by both individuals and businesses” said Art Tanseco, head of Global Payments Solutions at HSBC Philippines.

The solution leverages HSBCnet, the bank’s global digital platform, to provide valuable transactional data and support faster integration with existing systems.

Omni Collect is currently available in 12 countries across Asia, including Australia, Bangladesh, China, Hong Kong, Indonesia, Japan, Malaysia, Singapore, South Korea, Thailand, and Vietnam.

HSBC Philippines claims to be the first global bank to offer this type of API-based solution in the region.