HSBC: Launches multi-currency business wallet to rival fintech providers
- Bank launched a wallet designed for businesses to hold, send, and receive cash sourced or directed abroad.
- As part of HSBCnet, one of the bank’s business banking applications, companies can use via desktop, and mobile.
- The bank aims to tap medium-sized businesses with international supply chains.
- The idea is to eliminate the need for business customers to use third-party providers for their international transactions.
- Bank marketing is newly built as a way for businesses to “pay like a local”
- Companies using the new money transfer can see and fix the exchange rate before they make the payment.
