It started with an e-commerce portal, Maersk.com, where customers can easily book and manage shipping services. With the platform came the need to implement a digital payment and collection strategy to improve existing processes and minimise manual intervention. Maersk worked with HSBC Singapore to implement a digital collection solution, HSBC Omni Collect, which offers customers flexibility, speed and convenience. Its Asia Pacific transformation kick-started with a pilot in Indonesia.

Maersk was awarded the 2021 The Asset Triple A Awards for ‘Best Payments and Collections Solution’ in the logistics industry for its efforts.

Spearheading digitisation efforts and leading the logistics industry

Maersk’s MyFinance is an account management tool on its e-commerce platform that enables customers to do contract booking, make payments and check the status of payments. By integrating HSBC Omni Collect, it provides customers with flexible payment options* such as bank transfers, e-commerce banking, in-store payment through ATMs and other modes, while minimising internal reconciliation efforts.

HSBC assisted in coordinating efforts between the company’s IT team and a local Payment Service Provider (PSP) in Indonesia to ensure smooth integration with MyFinance. Using an Application Programming Interface (API) connectivity established between Maersk, HSBC, and the PSP to enable real-time information exchange, it enables Maersk to receive information such as incoming payment through MyFinance almost instantly. Before the integration, customers would need to request for document release by sending emails. Maersk would wait for the payment to be reflected in the account to enable payment clearing. It then separately confirms with the logistics team on receipt of payment before the Bill of Lading is sent to release goods to customers.

An award-winning solution which eliminates customer waiting time and manual interventions

This digital transformation and its benefits to Maersk and its customers were recognised by the 2021 The Asset Triple A Awards for Best Payments and Collections Solution in the logistics industry. HSBC Omni Collect eliminated the need for manual intervention by automating collections, reconciliations and standardising reporting for the company. Maersk requires a single account with HSBC while offering multiple payment options to its customers.

From Maersk customers’ perspective, the solution enables them to make payments 24/7 and receive their shipment documents almost instantly with ease. It drastically improved customer satisfaction and set a new benchmark for the industry.

Forward thinking gave rise to resilience during the pandemic

With the evolving COVID-19 situation and hard-to-process physical payment methods, Maersk customers can continue to keep their businesses running with minimal disruptions using the digital payment channels Maersk offers. The company is planning to expand their e-commerce portal to other Asia Pacific markets, leveraging its HSBC Omni Collect implementation success in Indonesia.

* Availability of each payment option is subject to vary by market.

Emerging markets are ‘banking’ on growth
The pandemic accelerates financial inclusion in developing countries
Join the conversation?

Join our Linkedin group to get an unparalleled view of macro and microeconomic events and trends from a bank that is a leader in both developed and emerging markets.