HSBC enhances retail digital offering in India

HSBC India announced the launch of comprehensive range of digital payment products, aimed at ensuring a more secure and convenient digital banking experience. 

Ramakrishnan S., head of wealth and personal banking at HSBC India said, “With banking becoming increasingly digital, we believe that we have an important role to play in enabling digitization across all our product and service offerings.”

HSBC India is now part of e-NACH (Electronic National Automated Clearing House), which will allow its retail customers to easily automate recurring payments with standing instructions for specific amounts, date and time of payment, without having to submit paper mandates. It provides a secure and assured mandate acceptance along with 24/7 service capability for mandate registration directly from the website of corporates and merchants.  

The Bank has also introduced real-time bill payments powered by Bharat Bill Payments system (BBPS) on its Net banking and Mobile application. This allows HSBC India retail customers to add and pay their bills real time and set up schedule of payments or recurring bill payments. Both e-NACH and BBPS are powered by National Payments Corporation of India (NPCI)

Additionally, HSBC India retail customers can now use their internet banking to pay directly using their HSBC India bank account at over 200,000 merchant websites in addition to debit and credit cards.

All these payment features come on top of an upgraded digital secure-access platform, for an enhanced secure digital-banking experience for HSBC India’s retail customers. These services allow the Bank’s customers to register online in a simplified manner and enhance security around their device or browser.