The upgrades will simplify financial inclusion for the unbanked sector and visitors in Qatar, which is closely aligned with the bank’s strategy and the ambitions of the regulator and financial sector in the country.

“HSBC aims to be the bank in your pocket and with the introduction of mobile payments and collections on our digital banking channels we are another step closer to making banking services faster, easier and more secure,” said Abdul Hakeem Mostafawi, CEO of HSBC in Qatar. “Our digital strategy is all about improving customer experiences to suit our customers’ increasingly digital lives,” he added. “The Qatar Central Bank is at the forefront of continuous investment in innovative digital banking services and an enabler of progressive change,” Mostafawi concluded.

The new mobile payments and collections services provide a more convenient and secure way to pay bills, transfer money from person to person, and purchase goods from registered merchants.

Customers can make instant local transfers to pay bills and payments to merchants or transfer money to another person by using a QR code. The service is available 24/7 and will ensure instant transfer of funds between accounts.

Personal banking customers can now access this feature on their mobile banking app and use it for purchases with registered merchants, utility bill payments and transfers from one person to another with an easy three step process.

Merchants will also benefit by registering with HSBC on HSBCnet and obtaining the mobile collections services.

This will allow corporates to provide an additional way to its customers to pay for their purchases, provide their sales force with an option to collect payment for a service, and allow corporates to provide an additional way to its customers to pay for their online purchases using a wallet app instead of traditional payment methods such as cash, cheques, transfers and credit cards.