Omni Collect Solution
Back to Digital BankingWe are the first foreign bank in mainland China to offer an omni collect solution service that operates across all major digital channels. It also provides a consolidated reconciliation report with transaction details. This can offer a significant boost to our operational efficiency in information collection, reconciliation, cash management and so on.
Benefits
Integrated Service
Standard banking solution that supports debit cards, credit cards, overseas bank cards and major mobile payment options, delivering cost benefits.
Single Platform
One API for consolidated management of multiple mobile collection channels. Toolkit that minimises developers’ workload.
Standardized Reporting
Reporting system that covers different payment options, handy for reconciliation and store management.
Secure and Reliable
Centralized settlement with collections automatically transferred the client’s HSBC corporate banking account.
Flexible rates
Flexible rates based on different client needs.
Mobile collection via HSBC WeChat mini program
Our mobile collections service allows corporate customers to collect payments through using QR codes generated by collections, a mini program built on HSBC China Corporate Banking WeChat Service platform. Users can collect payments with their mobile phones instead of having to use collection devices or develop a collection system.
Service highlights
- Real-time dynamic QR code for collections (Alipay and WeChat Pay accepted)
- T+1 settlement on your corporate account at HSBC
- Applicable to multiple scenarios including face-to-face collections and remote collections
- Cost savings from no need to install any hardware / APP or to develop any system
How to collect payments?
Step 1: The payee accesses “Collections”, the mini program in HSBC China Corporate Banking WeChat Service.
Step 2: The payee enters the transaction amount and remarks (optional) into the program for a QR code to be generated and presented to the payer. The QR code can also be saved first and shared with the payer later.
Step 3: The payer can pay by scanning the QR code with Alipay or WeChat Pay.
Suitable industry
We have provided comprehensive banking solutions, both online and offline, to a number of corporate clients across multiple industries including retail, education, exhibition, healthcare, maternal infant care, tourism, real estate and logistics.
Our 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.
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’s omni collect 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 collect 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.
