The new e-commerce digital payment platform, Omni Collect, has been launched in the United Arab Emirates by HSBC, a prominent banking institution located in the United Kingdom.

Corporate clients will have access to the platform—which was developed in collaboration with Saudi fintech company Geidea—through HSBCnet.

The goal of Omni Collect is to make it easier for companies to receive digital payments for goods and services that are sold through a variety of payment channels. These payment methods include e-wallets like Apple Pay and Samsung Pay in addition to credit and debit cards.

Geidea already has connections in the UK and is supported by the Department for Business & Trade there.

HSBC: Growing its network of partners in the Middle East

At a signing ceremony, HSBC Bank Middle East CEO of the United Arab Emirates, Mohamed Al Marzooqi, joined Geidea Founder and Executive Chairperson Abdullah Al Othman to ratify the company's collaboration with Geidea.

Geidea will incorporate a merchant acquiring facility into Omni Collect in accordance with their partnership, giving HSBC's corporate and commercial clients access to the new card receivables solution and improving their comprehension of their own collections data.

According to Kyle Boag, Regional Head of worldwide Payment Solutions at HSBC for Middle East, North Africa, and Turkey (MENAT), "The UAE isn't an exception to the global trend of cashless transactions; we're seeing significant annual growth in digital payments and online shopping."

Businesses may take advantage of this development by using HSBC's Omni Collect, which provides a straightforward method of accelerating payment collection, analyzing consumer payment behavior, and identifying patterns to assist influence business choices.

"Our goal is to digitize the bank at a large scale in order to innovate for our customers more quickly. Our collaboration with Geidea is crucial to the advancement of this transformation agenda."

smooth integration of solutions

HSBC uses APIs to make sure Omni Collect is directly linked with a client's accounting and e-commerce platforms, enabling real-time data flow and simplifying the user experience for its clients.

This enables clients of HSBC to observe everyday business transactions in a unified manner, aggregate reports across various payment methods, and monitor transactions online.

HSBC is utilizing the technology that will define the upcoming decade in this way.

"Our mission is to make payments and commerce technology accessible, affordable, and intuitive for everyone," says Sailesh Malhotra, general manager of Geidea. "This partnership is another testament to our reliability and ability to scale as we deliver on that commitment."

"The UAE Central Bank has given us permission to provide a wide range of merchant services, enabling us to collaborate with international partners like HSBC.

"This product will help all businesses because it makes it easier for them to see how their operations are growing across all business segments, from established multinationals to emerging micro-enterprises."

The operational simplicity that HSBC's clients that use Omni Collect enjoy enables them to grow their companies in several European and Asian regions.

"We are seeing increased demand for fully integrated and comprehensive payment solutions, to grow their e-commerce business, across retailers, consumer brands, healthcare, pharmaceuticals, and shipping and logistics sectors," says Kyle Boag in his conclusion.

"We are investing in the UAE market in a number of ways to meet our customers' digital needs, one of which is Omni Collect."

Omni Channel was launched in the United Arab Emirates and is also accessible in the United Kingdom, Australia, India, Hong Kong, Indonesia, Malaysia, South Korea, Japan, Singapore, Thailand, and Vietnam, in addition to mainland China.