HSBC today announced the launch of its Digital Merchant Services (DMS) in India and Singapore, extending its innovative payments platform supporting Digital Merchants and Marketplaces to two of Asia’s fastest-growing digital economies.
The service enables merchants to accept payments from consumers via a broad range of payment methods, from cards to digital wallets and real-time transfers, through a single contract and interface, simplifying the complexity of managing multiple payment providers.
The launch of DMS in India and Singapore builds on its successful rollout of DMS in Hong Kong last year, expanding support to 14 payment methods across the three markets.
Manish Kohli, Head of Global Payments Solutions at HSBC, said:“We are delighted to bring HSBC Digital Merchant Services to India and Singapore. These are two markets where digital commerce is advancing at pace, and merchants need payment solutions that are as dynamic as the customers they serve. By combining HSBC’s global reach with local specialisation, we can help businesses of all sizes grow confidently, domestically and across borders.”
Merchants using the platform also gain access to consolidated reporting and reconciliation, faster settlement times and the flexibility to integrate with their existing systems, delivering a seamless customer experience, while reducing operational costs and providing richer insights into transaction flows.
In addition, DMS enables HSBC to collaborate with Fintechs, supporting more digital acquiring capabilities and enabling integration into clients’ wider cash management and liquidity solutions.
As part of its roadmap, HSBC plans to expand DMS to additional markets globally, underlining the bank’s commitment to accelerating e-commerce and digital payments worldwide.