Global Iris is a new product that combines virtual payments with hosted and non-hosted payment pages, which merchants can select individually or as a suite, depending on their needs. The product has been launched in co-operation with Realex Payments.

Chris Davies, Managing Director of HSBC Merchant Services said: "We understand that all merchants are different: some need more assistance with their PCI compliance, while others also require assistance with creating a fully integrated website for their e-commerce business. Some merchants simply want an alternative way of taking card-not-present payments. Global Iris can offer merchants all of this flexibility."

The virtual terminal allows a merchant to process an online transaction without having to see the customer's card. The card details are taken over the phone and the merchant can input them securely and directly into the virtual online terminal.

When a customer wishes to make a purchase on the merchant's own website, the merchant has the option to direct the payment to an external provider or to handle the transaction on its own site. 'Re-direct' takes the cardholder to the Global Iris payment page to complete the payment. This is a fully hosted service that incorporates all PCI requirements surrounding the data capture.

The 'Remote' option allows the merchant to include an integrated payment page within their own website. This can be branded with the merchant's logo. A dedicated Realex Payments technical helpdesk is also available to assist merchants with the coding and integrating the payment page.

Colm Lyon, CEO and founder of Realex Payments, said: 'to be selected as the payment gateway partner of choice by HSBC Merchant Services represents a significant and exciting milestone for Realex Payments. The combination of our online payments product and expertise with the acquiring talent of HSBC Merchant Services will create a truly winning solution for both large and smalmall online retailers.'

'As a business we are constantly looking for new ways to help retailers to sell online and most importantly to be able to accept payments. Our growth over the past decade has come about from having a great product coupled with people who are experts in the online payments arena and dedicated to providing the highest levels of customer service. In the last two years we have opened additional offices in Paris and Amsterdam to expand our European presence. This announcement is a further reinforcement of our capability and we very much look forward to working with HSBC Merchant Services now and into the future' Colm concluded.