Corporates are increasingly embracing mobile payments, with more than $100 billion in payments now authorised globally through the HSBCnet mobile corporate banking platform since its launch in 2011.
The total transaction value of mobile payments has more than doubled in the last 18
months, indicating that corporate usage has moved into the mainstream.
The volume of mobile payments made by Chief Financial Officers and Corporate Treasurers has also sharply increased. A total of 1.2 million payments have now been made since the platform’s launch. So far in 2016, more than 564,000 mobile payments were made by HSBC’s corporate customers, compared with 371,000 in 2015.
HSBC launched its Android and Apple smartphone app for corporates globally throughout 2014 and 2015. Since then, more than 76,000 corporate users have downloaded the app and transactions authorised via the app are now nearly equal to transactions authorised via the mobile website.
Nadya Hijazi, Global Head of E-Commerce, Global Liquidity and Cash Management at HSBC, said: “Business uptake of mobile payments is gathering significant pace, as the functionality and flexibility of this channel gains trust and acceptance in finance and treasury departments globally.
The benefits that mobile payments can deliver to the corporate world, in terms of convenience, speed and enhanced visibility over the workings of a business, make it a compelling proposition.”