HSBC launches mobile payments service

HSBC announced that it has added a new facility to its mobile banking offering. The service allows customers to initiate online payments to existing beneficiaries across the world through their mobile phones.

Corporate treasurers can use the enhanced application to check their account balance, request statements, authorize payment instructions, and receive payment alerts using smartphones.

Over $393 million in payments were made on HSBCnet Mobile in 2012 in the Middle East and North Africa region. The application and the new payment facility are available to eight countries in the region: the UAE, Algeria, Bahrain, Jordan, Lebanon, Oman, Qatar, and Saudi Arabia.