HSBC Kuwait has launched a digital payment acceptance solution for its corporate and institutional customers through a partnership with Kuwait-based fintech Tap Payments, a licensed payment service provider.
The solution will enable HSBC customers to accept card payments through Tap Payments’ digital infrastructure. According to the announcement, it is designed to simplify collections and financial settlements while consolidating reporting and providing a single view of payment activity.
The partnership is aimed at supporting Kuwait’s shift toward digital commerce by giving businesses more flexibility in collecting receivables and reducing their reliance on cash and cheques. The platform will also provide more detailed transaction data across collection channels, helping businesses with financial reconciliation and data-based decision-making.
The system is designed to integrate with customers’ existing channels and information systems without requiring additional investment in infrastructure or operating processes.
Source: Jawlah
