Cash Management

Omni Channel Collection

Cash Management

Omni-channel collections | Xinyu Group Prime Time

Xinyu Group is the largest retailer of clocks and watches both in China and globally. Its business portfolio includes wholesale, retail and after-sales services. With a total sales revenue of nearly 10 billion RMB, the Group owns close to 400 stores in China, which account for over 7 billion RMB in sales. As a time-honoured traditional retail network, we also need to evolve with the changing consumer behaviours by developing innovative approaches to business.

HSBC is in the leading position in cash management. We are also the first foreign bank in mainland China to offer an omni-channel collections service that operates across all major digital channels. This solution allows retailers in mainland China to collect payments from customers who are using a variety of popular e-wallets such as Alipay, WeChat Pay, UnionPay QuickPass and Apple Pay.

HSBC’s omni-channel collections solution supports us with data, processes, information and various other benefits. It also provides a consolidated reconciliation report with transaction details on T+1 basis. This can offer a significant boost to our operational efficiency in information collection, reconciliation, cash management and so on. It is expected to help us save 10% on the financial cost every year and enhance our cash management efficiency by at least 50%.

Our omni-channel collections solution has two main characteristics. First, it is “omni”in the sense that it covers online, mobile and offline channels, as well as all major payment service providers in China. Also, it is a “one-stop solution” featuring one POS machine, one reconciliation report and a single platform. This new solution is just one of the many important solutions under “Smarter Banking”. Going forward, we’ll launch more smart and digital products and services. Together, they’ll dramatically boost our clients’ cash management efficiency and their customer experience.

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Commercial Banking Service Hotline

400 821 8878

 

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