(LONDON) - HSBC today announced the launch of FX Flexpay, enabling clients to make automated, international payments in more than 140 currencies, using a single application programming interface (API).
FX Flexpay connects Global Disbursements – the bank’s seamless process for cross-border, low value mass payments – with FX FlexRate, HSBC’s proprietary foreign exchange pricing technology that guarantees foreign exchange rates or offers them in real time.
The result is a solution that provides transparency over foreign exchange rates and an efficient operating model for global payments – enabling clients to make cost savings while increasing operational efficiency.
Gregory Edwards, Global Head of Transactional FX, said:
“This is an exciting and unique new service we are bringing to market.
Our corporate, institutional and sovereign customers will now be able to use Flexpay to make automated, overseas remittances or disbursements and other types of payments from a choice of more than 140 currencies. Clients can choose guaranteed or real-time FX rates, depending on their preferences. Pricing is transparent and reported on a trade-by-trade basis.”
Thomas Halpin, Global Head of Payment Products, said:
“We are always looking to make payments processes simpler and faster, and to support clients in improving their operational efficiency. Flexpay does just that. Embedding our Payments and FX capabilities into a client’s own platforms makes the global payments process much more efficient.”
The solution has gone live in the UK and Hong Kong and across Europe, the Middle East and North America.
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HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 65 countries and territories in Europe, Asia, North America, Latin America, and Middle East and North Africa. With assets of US$2,728bn at 30 September 2019, HSBC is one of the world's largest banking and financial services organisations.