HSBC Forms Alliance with Debitman Merchant Card Network

Merchants participating in The Retailer's Network enjoy lower cost fees for card transactions. In addition, merchants issuing cards through the network share a portion of the interchange revenue whenever their branded cards are used at any participating merchant. The network's patent-pending debit card system supports a variety of card programs and can accommodate merchant-specific loyalty programs.

HSBC Retail Services, a leading provider of private label retail cards, will drive growth in The Retailer's Network through its card program expertise, including handling card program fulfillment and support services.

"Our alliance with Debitman sets the stage for a truly innovative solution in the retail marketplace," said Joseph Hoff, chief executive officer, HSBC Retail Services. "Through the Retailer's Network, HSBC will offer a unique and cost effective solution to help retailers better address customer trends and reward loyal shoppers."

Merchants who choose HSBC card programs to access The Retailer's Network receive significant cost savings compared with other card networks. Merchant integration into the Retailer's Network requires neither point-of-sale modifications nor costly investment in card acceptance equipment. Customers who hold cards for network merchants will use one convenient payment card, linked to their checking account, to pay for purchases and earn retailer loyalty rewards wherever the Retailer's Network is accepted (currently more than 200,000 locations).

"The alliance with HSBC will accelerate Debitman's market penetration," said Debitman CEO Mike Grossman. "We anticipate rapid growth in both card-issuing and card-accepting merchants participating in The Retailer's Network."