HSBC is a long-running global bank that has served many individual and business customers across Europe, Asia and America. HSBC UK provides merchant services to business customers through HSBC Merchant Services, now renamed as Global Payments.
HSBC—Hong Kong and Shanghai Banking Corporation—was founded in 1865 to fund the trade between Europe and China. The bank opened its first branches in Hong Kong, Shanghai and London. It grew over the years to acquire and merge with other banks, establishing its presence in Europe, the Middle East, Asia-Pacific and the Americas.
The HSBC Group acquired the Midland Bank in the UK and its pioneering telephone service bank, firstdirect, in 1992. Midland Bank was quickly rebranded as HSBC, making HSBC an integral part of the High Street and a truly global brand.
In 2009, HSBC UK sold its merchant services to Global Payments, Inc., considered to be one of the country’s biggest card payment and global transaction providers.
HSBC Merchant Accounts: What’s on Offer
1. Global Iris
Global Iris is a complete online payment processing solution that allows businesses to accept card payments online or over the phone or by post. This service comes with an online reporting tool to help merchants keep track of transactions and make it easier to do reconciliations.
Businesses who want to expand their customer base internationally will benefit from Dynamic Currency Conversion which allows their customers to pay them in their local currency. Clients can either integrate the payment gateway into their existing site or use a hosted payment page. Global Iris is also compatible with many shopping carts.
2. Global Fortress
Global Fortress is a security management product exclusive to Global Payments customers. It acts as a first line of defence against fraud, providing businesses with everything they need to keep their customers’ card data secure, thus helping them achieve PCI DSS compliance in as simple a process as possible.
HSBC Merchant Account Fee Structure
Global Payments puts together customised packages for its customers, so prospective clients are encouraged to contact its customer services department to find out which solutions they’ll need and how much these will cost.
HSBC/Global Payments is a multi-awarded payment solutions provider, helping businesses accept and process card payments swiftly and securely. Using Global Iris can help businesses reach more customers worldwide as it allows them to accept a wide range of debit and credit cards, in their customers’ local currencies.
It continues HSBC’s pioneering tradition by being the first UK payment solution provider to accept UnionPay, the only card network in China, putting its clients in the enviable position of having easy access to China’s booming market.
Global Payments offers fraud prevention services which are comprehensive and have won a number of awards. Customers can get support online or phone customer services during office hours, from Monday to Friday.
Disclaimer: All data quoted in this article are true at the time of publication.