More NewsHSBC to Offer IMPS for Corporate Customers in India

HSBC to Offer IMPS for Corporate Customers in India

HSBC India has launched an Interbank Mobile Payment Service (IMPS) for its corporate customers, in partnership with National Payments Corporation of India (NPCI). IMPS is a payments platform that allows customers to use mobile technology as a channel for accessing their bank accounts and initiate interbank fund transfers in a fast, secure manner. Transfers can be person-to-person (P2P) or person-to-merchant (P2M).

IMPS benefits companies’ receivables function as it provides instant information to the corporate through email and SMS alerts, which will be sent on completion of the transaction. IMPS will also help in reducing the risk and cost associated with other existing modes such as cash and cheques.

Diane Reyes, global head of payments and cash management (PCM) at HSBC, said: “We are partnering with NPCI in this important initiative to help our clients’ improve the experience they can offer their customers. HSBC Group continues to show leadership in mobile payments across Asia. Our commitment to helping clients through IMPS, speeds up the time taken for companies to receive cash – giving treasurers greater clarity and simplicity in running their businesses.”

Related Articles

Preparing for GDPR? Here’s four things to consider

More News Preparing for GDPR? Here’s four things to consider

3m Elliott Wiseman
Cash flow in focus for investors

Cash Management Cash flow in focus for investors

3m Conor Deegan
Treasury TV: Karen Pugsley, Domino's Pizza Group

More News Treasury TV: Karen Pugsley, Domino's Pizza Group

3m Victoria Beckett
Treasury TV: Yeng Butler compares US and European MMF reforms

Compliance Treasury TV: Yeng Butler compares US and European MMF reforms

4m Victoria Beckett
Treasury TV: Tim de Knegt, The Port of Rotterdam

10 Minutes With The Treasury Treasury TV: Tim de Knegt, The Port of Rotterdam

4m Victoria Beckett
Banks are selling clients short with short dated cash deposit U-turns

Banking Banks are selling clients short with short dated cash deposit U-turns

4m Victoria Beckett
What does sterling’s Brexit boost mean for UK manufacturers?

More News What does sterling’s Brexit boost mean for UK manufacturers?

4m Tasja Botha
FX for corporates: 5 best practices for treasurers

Economy FX for corporates: 5 best practices for treasurers

4m Mateo Graziosi