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HSBC

Welcome to the News View for "HSBC".

Here, on these archive pages, you'll find all of the articles on Payments News for HSBC listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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February 01, 2012

Brand Finance Releases Bank Brand Rankings

Hsbc logo 140x60pxBrand Finance, in conjunction with The Banker, has announced the results of its latest study of the financial value of various banking brands around the world. From this year's report:

  • HSBC, the only British bank among the ten most valuable banking brands, knocks Bank of America off the top spot in the Brand Finance Banking 500.

  • Wells Fargo is the most valuable banking brand in the U.S. market, and the second most valuable worldwide.

  • Chinese banks performed strongly with China Construction Bank, ICBC, Bank of China and the Agricultural Bank of China maintaining a successful streak for Chinese banking as they secure spots in the Top 20.

  • There are now more banks from the BRICs (Brazil, Russia, India and China) in the top 20 banking brands than there are from Europe.
Each bank is accorded a brand rating (a benchmarking study of the strength, risk and future potential of a brand relative to its competitor set), as well as a brand value (a summary measure of the financial strength of the brand.)

January 04, 2012

September 12, 2011

August 10, 2011

November 16, 2009

Ingenico Announces £13M Agreement with HSBC Merchant Services

Ingenico_logo-140px.jpgIngenico and HSBC Merchant Services have announce that they have extended their partnership and will be working together on a four year deal worth £13m. Ingenico was chosen by HSBC Merchant Services to supply its merchants with advanced services, including 37,000 new payment terminals within the UK. READ MORE »

August 06, 2009

Global Payments Launches Broadband Payments For Asia Pacific

globalpayments_logo-140px.jpgGlobal Payments Asia-Pacific Limited, a joint venture between HSBC and Global Payments, has introduced Global BroadbandPay - calling it "an Internet Protocol (IP)-based point-of-sale solution that provides merchants with fast, secure and reliable card acceptance services across the Asia-Pacific region. Merchants and processing partners no longer need to rely on slow dial-up networks or invest in expensive dedicated communication links to their card acquiring banks. Instead, this new product enables use of their existing internet connection to enjoy a "plug-and-play" experience. Global BroadbandPay is now available to merchants in Brunei, Hong Kong, Macau, the Maldives, the Philippines, Singapore and Sri Lanka." READ MORE »

June 12, 2009

Global Payments Acquires Remaining 49% Interest in U.K. Merchant Services JV

globalpayments_logo-140px.jpgGlobal Payments has announced that it has acquired the remaining 49% interest in its merchant services joint venture in the United Kingdom from HSBC Bank plc ("HSBC"). "In June 2008, Global Payments and HSBC formed a joint venture, HSBC Merchant Services, to provide payment processing services to merchants in the United Kingdom and Internet merchants globally. Under the terms of today's agreement, Global Payments will pay HSBC a total of USD$307.7 million in cash to acquire the remaining 49% ownership interest in this joint venture. In addition, HSBC will extend the current ten-year exclusive marketing alliance agreement whereby the bank provides merchant referrals and bank sponsorship to Global Payments to June 2019." READ MORE »

March 12, 2009

Online Banking Draws Nearly Half of Active US Online Population

New research released today by HSBC Direct shows that 49 percent of the online population conducts most, if not all, of its banking via the Internet, up nearly 23 percent from early 2007. READ MORE »

March 02, 2009

HSBC To Exit US Consumer Finance Business - Except Credit Cards

In its annual earnings release today, HSBC announced that it was going to shut down its US HSBC Finance business:

It is now clear that models of direct personal lending that depend on wholesale markets for funding are no longer viable. In light of this, we have taken the difficult decision that, with the exception of credit cards, we will write no further consumer finance business through the HFC and Beneficial brands in the US and close the majority of the network. Thus, in terms of new business, we are drawing a line and we will run off our existing business, providing all necessary support to HSBC Finance to enable it to do so in a measured way and meet all its commitments. ... With the benefit of hindsight, this is an acquisition we wish we had not undertaken."

January 05, 2009

HSBC Deploys Authentify for Out-of-Band Authentication

Authentify has announced that HSBC has deployed Authentify’s services to protect online and remote transactions from fraud. According to the company, "HSBC, the world's largest bank by asset size, is using Authentify’s services to automatically authenticate online users attempting certain transaction against HSBC accounts. The out-of-band process requires user or transaction specific details to be entered via telephone, separately from the Internet side of the exchange. The process isolates the authentication from Internet threats making it more difficult to tamper with an account even if armed with compromised identity information." READ MORE »

October 29, 2008

HSBC to Expand Visa Debit Issuance in Asia Pacific, Middle East

Visa and HSBC have announced that the two companies have expanded their global relationship to include new debit card programs in a number of countries throughout Asia Pacific and the Middle East. READ MORE »

September 18, 2008

Mobile Payment Processing Solution for Merchants in Asia-Pacific

Global Payments Asia-Pacific Limited, a joint venture between HSBC and Global Payments, has introduced "a secure GPRS-powered mobile payment service called Global MobilePay(TM) that provides mobile card acceptance capabilities for merchants in the Asia-Pacific region. Global Payments is one of the first payment processors to launch an extensive mobile payment solution for merchants across Asia. This service is now available in Brunei, China, India, Malaysia, the Maldives, the Philippines, Singapore, Sri Lanka and Taiwan." READ MORE »

June 17, 2008

Global Payments, HSBC Form Joint Acquiring Venture in UK

Global Payments has announced a joint venture with HSBC Bank to provide payment processing services to merchants in the United Kingdom and Internet merchants globally. The new company will operate under the name HSBC Merchant Services. READ MORE »

April 07, 2008

HSBC, Loyalty Lab Form Alliance

Loyalty Lab has announced a 'strategic alliance with HSBC Finance Corporation’s card and retail services business to extend advanced loyalty and customer retention marketing (CRM) capabilities to retailers that offer private label and co-branded credit cards through HSBC.' READ MORE »

October 18, 2007

HSBC, Pathmark Plan Loyalty Rewards Debit Payment Card Program

HSBC Finance Corporation’s card and retail services business and Pathmark Stores have announced "an agreement to offer a multi-purpose rewards and payment card for supermarket customers. The new Pathmark Advantage Payment Card enhances the current Pathmark Advantage Club card by providing an easy and superior one-swipe payment process that also generates loyalty rewards." The card is linked to the consumer's checking account and functions as a PIN-debit card for purchases. The cards will also be accepted "at more than 200,000 merchant locations in the U.S. that participate in the Tempo Payment Network."

READ MORE »

May 29, 2007

HSBC Direct Launches New Online Payment Account

HSBC Bank USA has announced HSBC Direct’s Online Payment Account, a new Online Payment Account product that offers instant fund transfers to and from the HSBC Direct Online Savings Account (OSA) and pays a current yield of 2.50% APY. According to HSBC, "this account allows customers to leave funds in the high-yield OSA longer, and fluidly manage their money so that they can maximize the value of every dollar, every day. Customers can also earn interest on money in the Online Payment Account used for everyday expenses, and then promptly move anything they do not spend back into high-yield savings, getting the most earning power from both."

READ MORE »

May 16, 2007

UK - HSBC Opts Out of Home Chip and PIN

Andrea-Marie Vassou writes for Computeract!ve about a decision by HSBC to not deploy to customers chip card readers that other major banks in the UK are deploying to help deal with online banking and ecommerce fraud.

February 28, 2007

MasterCard's 10-K Annual Report

MasterCard's 10-K annual report for 2006 was filed today with the SEC and is available online. Included were various exhibits including updated Bylaws, as well as copies of amended business agreements with HSBC and Bank of America (both redacted to remove confidential financial information).

February 20, 2007

HSBC Direct Promotional High Yield Savings Product Sign of Things to Come

comScore Networks has released the results of a study examining the share of the online High Yield Savings market among key players and the impact of recent rate changes on this marketplace. According to comScore, "the market for high yield savings accounts has become increasingly competitive during the past year, as evidenced by the emergence of new players and subsequent marketplace fragmentation. While ING Direct held a commanding share of new online savings account application submissions in Q4 2005 (53 percent), its share dropped to 25 percent during the same time period in 2006. Meanwhile, newer players like Citibank and Washington Mutual, which each held a negligible share of the market in Q4 2005, increased their share to 19 percent and 17 percent, respectively by Q4 2006."

READ MORE »

February 01, 2007

HSBC Launches Mobile Phone Contactless Payments Pilot

HSBC Credit Card Services has announced it has launched a mobile phone payments pilot based on Near Field Communications technology in partnership with MasterCard and ViVOtech.

READ MORE »

January 28, 2007

HSBC Direct To Offer 6 Percent On New Money Deposits

The Washington Post is running a Reuters story reporting that HSBC Bank USA's HSBC Direct unit plans to begin paying 6 percent APR yield on online savings accounts for "new money" beginning tomorrow. The promotion is offering the higher rate between January 29 and April 30.

December 30, 2006

MasterCard Reports Revised HSBC Services Agreement

Yesterday, MasterCard filed with the SEC an 8-K report disclosing that "on December 27, 2006, MasterCard International Incorporated (“MasterCard”), the principal operating subsidiary of MasterCard Incorporated (the “Company”), amended its agreement (the “Agreement”) with HSBC Bank USA, National Association and HSBC Bank Nevada, N.A., as successor to Household Bank (SB), N.A., (collectively, the “HSBC Banks”), effective as of July 1, 2003, relating to certain pricing arrangements for the HSBC Banks’ use of the Company’s core authorization, clearing and settlement services in the United States. This amendment, among other things, restructures certain pricing, incentives and card issuance terms of the Agreement. The HSBC Banks, together with their affiliates, have approximately 5.55% of the total voting power of the Company’s Class M common stock."

September 27, 2006

Best Buy Revamps Loyalty Program, New Rewards MasterCard

Best Buy has announced enhancements to its customer loyalty program, Reward Zone, including the launch of the Best Buy Reward Zone program MasterCard card, issued by HSBC. The Reward Zone program will now allow customers to choose between two levels of rewards.

READ MORE »

July 26, 2006

$336 Million Settlement In Currency Conversion Litigation

Plaintiff law firms Berger & Montague and Lerach Coughlin have announced that a nationwide settlement agreement has been reached in a consolidated federal class action lawsuit about use of certain payment cards for foreign transactions. Defendants in the case include Visa, MasterCard, Bank of America, Bank One/First USA, Chase, Citibank, Diners Club, HSBC/Household, MBNA and Washington Mutual/Providian. MasterCard this morning has filed an 8-K with the SEC stating it "has agreed to pay $72.48 million, which constitutes its share of defendants' $336 million settlement." As an aside, MasterCard also reported that it had agreed to settle the "Schwartz Matter for $13.44 million, which is expected to be paid in 2007."

READ MORE »

May 22, 2006

HSBC Forms Alliance with Debitman Merchant Card Network

HSBC - North America's retail services business has announced a strategic alliance with electronic payment network operator Debitman Card, Inc. to accelerate growth in Debitman's debit card platform, known as "The Retailer's Network."

READ MORE »

May 05, 2006

Going Online for Savings

Jennifer Kingson reports for the New York Times on high yield, online only savings accounts such as those offered by ING Direct, HSBC Direct, Emigrant Direct, Citibank Direct and others - and asks whether the banks offering those high rates can actually make a profit from doing so.

READ MORE »

April 14, 2006

HSBC Acquires Boscov's Credit Card Portfolio

HSBC - North America's retail services business has announced that it has entered into a strategic alliance to acquire the credit receivables and to manage the ongoing credit program of Boscov's Department Stores, the largest full-line, family-owned independent department store chain in the United States.

READ MORE »

April 13, 2006

HSBC, First Direct To Launch MoniLink Mobile Banking In UK

The UK's MoniLink has announced that HSBC and First Direct will be the first banks to offer mobile phone banking later this year on the MoniLink network, a new UK mobile banking platform from the UK's cash machine network, LINK.

READ MORE »

March 23, 2006

HSBC Enhances North American Payments, Cash Management Services

HSBC's Global Transaction Banking Services has announced it will provide clients a centralized-secure payment service across Canada, the United States and Mexico. The payment service is geared toward clients that need to make payments to trading partners within North American Free Trade Agreement (NAFTA) countries.

READ MORE »

December 23, 2005

American Express Credit Card Issuer Partnerships

American Express announced two major bank credit card issuing partnership deals this week: Bank of America and HSBC.

In both deals the removal of each bank from the list of defendants in the litigation American Express is pursuing (re: damages associated with MasterCard and Visa losing the US antitrust case) may have been an important element.

READ MORE »

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