HSBC, a leading UK-based financial institution, has unveiled its latest ecommerce digital payment platform, Omni Collect, in the UAE. This launch is a result of a strategic partnership with Saudi-based fintech company Geidea.

Omni Collect, accessible via HSBCnet, is designed to streamline digital payment collections for businesses, accommodating multiple payment channels including credit and debit cards, as well as e-wallets like Apple Pay and Samsung Pay.

Geidea, supported by the UK Department for Business & Trade, brings its expertise to this collaboration. The partnership was formalized at a signing ceremony featuring Geidea’s Founder and Executive Chairperson Abdullah Al Othman and HSBC Bank Middle East’s CEO of UAE, Mohamed Al Marzooqi.

The collaboration will see Geidea integrate a merchant acquiring facility within Omni Collect, enhancing HSBC’s corporate clients' ability to manage card receivables and gain insights into their collections data.

Kyle Boag, HSBC’s Regional Head of Global Payment Solutions for the Middle East, North Africa, and Turkey (MENAT), remarked: “The UAE is experiencing a significant shift towards cashless transactions, with online shopping and digital payments growing annually. Omni Collect will enable businesses to efficiently collect payments, analyse customer behaviour, and make data-driven decisions. Our goal is to digitise banking at scale, and our partnership with Geidea is key to advancing this strategy.”

To ensure seamless integration for its clients, HSBC utilizes APIs to connect Omni Collect with their ecommerce and accounting systems, facilitating real-time data flow. This integration allows clients to monitor transactions, consolidate reports, and maintain a unified view of their daily business activities.

Sailesh Malhotra, General Manager at Geidea, highlighted the mission to make payments and commerce technology accessible and intuitive. “Our collaboration with HSBC underscores our commitment to providing scalable and reliable merchant services. Licensed by the UAE Central Bank, we offer a diverse range of merchant services, and this product will benefit businesses of all sizes by providing a clear view of growth opportunities across various segments,” he said.

Omni Collect empowers HSBC’s clients to expand their operations across European and Asian markets, addressing the growing demand for integrated payment solutions among retailers, consumer brands, healthcare, pharmaceuticals, and logistics sectors.

Kyle Boag concluded: “We are committed to investing in the UAE market to meet our customers’ digital needs, and Omni Collect is a significant step in that direction.”

In addition to its UAE launch, Omni Collect is available in the UK, Australia, India, mainland China, Hong Kong, Indonesia, Malaysia, South Korea, Japan, Singapore, Thailand, and Vietnam.