HSBC wins mandate from Ctrip.com

Ctrip.com’s Hong Kong subsidiary streamlines cross-border payments through HSBC.

Ctrip.com Hong Kong, a wholly owned subsidiary of Ctrip.com International, a travel services provider in mainland China, has selected HSBC global payments and cash management for its payment needs. The company had partnered with several local Chinese banks in the past, but will now streamline its cross-border payments solely through HSBC.

Under the mandate, Ctrip.com will implement HSBC’s online electronic banking system HSBCnet and the bank’s host-to-host connectivity solution, HSBC Connect. HSBC Connect uses extensible markup language and is therefore able to fully integrate with Ctrip.com’s China-based enterprise resource planning system. According to HSBC, Ctrip.com is the bank’s first small and medium-size enterprise SME client to...

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