HSBC says it is the leading foreign bank in Thailand to launch a fully Integrated Omnichannel Collections Service in partnership with 2C2P Thailand Co Ltd, that operates across all major digital channels in the country, in a move to help multinational and domestic companies tap into a market where internet usage tops world rankings.
The solution allows corporates in Thailand to collect payments from customers via diverse payment methods including cards, bank transfers, e-wallets and cash, the bank said. The service enables corporates to experience more operational efficiency with one direct interface, eliminating their needs to integrate with multiple payment service providers, it said.
As the second-largest economy in Asean after Indonesia, Thailand is one of the fastest growing markets for digital payments adoption.
Ai Chen Lim, head of global liquidity at HSBC said: “As an international cash management bank of choice, we are excited to launch a uniquely positioned omnichannel proposition for our corporate client base; one which leverages our regional platform and extends our mobile collections service beyond the successful rollout in China.
" As a reference, Thailand’s mobile social media penetration ranks as top 10 in the world. We want to be a one-stop corporate banking provider for collections from a myriad of evolving channels to our corporate clients.
“As part of driving digitisation with the Thailand 4.0 national agenda, we have also invested in the instant payment infrastructure, known as PromptPay, for our corporate clients. Together with our newly launched the omnichannel, we are confident that we can add tremendous value to our clients looking for optimisation in their financial and operational efficiencies, leveraging market-leading digital solutions,” Lim said.