HSBC Malaysia Launches Multi-Currency Digital Wallet for SMEs

HSBC Malaysia has launched the HSBC Global Wallet, a multi-currency digital wallet that allows SMEs to make and receive international payments from a single global account.

Global Wallet is fully integrated within HSBC's existing business banking platform, HSBCnet, and by using the bank's global payments network, allows SMEs to 'pay and receive like a local'. Global Wallet reduces the time in which money can be delivered to an overseas beneficiary and removes the need for businesses to use third-party providers for international transactions, as the press release says.

SMEs can send and receive money in 10 currencies and hold and manage those currencies by establishing a single banking relationship with HSBC Malaysia.

Key highlights of HSBC's Global Wallet:

• HSBC Global Wallet lets you pay and receive like a local in 10 currencies: HKD, USD, JPY, CNY, CHF, AUD, CAD, GBP, EUR and SGD within the same or next day. More currencies will be made available progressively.

• Minimising correspondence fees means that SMEs can make cheaper and faster payments by using on HSBC's global payment network 

• ​By showing customers the exchange rate before they execute a payment, and by fixing it to ensure the right amount settles in the beneficiary's account, HSBC Global Wallet allows customers to operate internationally with confidence.

(Source:The Paypers)