HSBC and 7-Eleven tie up in Macau

HSBC signs up its first client for a new cash bill payment service launched by the global bank and 7-Eleven in Macau.
HSBC credit card services has signed up to offer customers a 24-hour/seven days-a-week cash bill payment service in Macau. The new service will allow HSBC credit card holders to pay their bills at 32 7-Eleven outlets in Macau, by presenting a new credit card bill with barcodes.

HSBC and 7-Eleven launched a payment partnership in the fourth quarter last year, but the bank's credit card division is the first pilot client to sign up for the service.

The bank says the service will offer consumers a more convenient way of settling their bills. The reconciliation process for merchants will be further streamlined through automation of data capture and online consolidation reporting, it says.

In addition to its booming tourism industry, Macau is also developing itself as a centre for foreign trade, logistics and offshore business centres, in order to diversify its economic base.

ôThe continued expansion in the gaming industry is also naturally driving demand across other key sectors such as media, hotels and construction, where multinational interests are strong,ö says Clarissa Wong, head of global payments and cash management at HSBC Macau.

ôInternational banks are well placed to serve the demands of both local and multinational businesses looking to partner in the success of Macau's growth û whether via a full-service domestic cash management offering, or as part of a broader international cash and treasury management solution,ö she says.

WongÆs recent appointment as the bankÆs head of global payments and cash management for Macau attests to increasing moves by banks and corporates to capitalise on the rising investor interest in Macau. There are hopes the recent liberalisation of its gambling industry will continue to attract visitors into the territory.

HSBC global payments and cash management provides cash management services to over 445,000 customers in Asia-Pacific, including Fortune 500 multinational companies, top-tier local corporates, middle market companies, SMEs, financial institutions and government bodies.
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