HSBC has announced the launch of HSBC Digital Merchant Services (DMS) in India — a comprehensive digital payment management solution aimed at simplifying payment processes for eCommerce merchants. The platform enables merchants to accept multiple payment methods through a single contract and interface, eliminating the complexity of managing multiple payment providers.
The service supports card transactions (Mastercard, Visa, RuPay), along with UPI and net banking, to be rolled out in phases. It offers an integrated, end-to-end system that enhances reconciliation and reporting, helping merchants streamline operations and improve efficiency.
India’s fast-growing e-commerce market, currently the second largest in Asia, is projected to expand fourfold to USD 550 billion by 2035, making digital payments vital to sustaining this growth.
Commenting on the launch, Ajay Sharma, Head of Banking, HSBC India, said, “The launch of HSBC Digital Merchant Services represents a pivotal step in our journey toward creating a comprehensive and resilient payments infrastructure. Our focus on digital transformation continues to unlock new business value for clients by providing secure, efficient, and customer-centric payment solutions.”
Manasi Pandey, Head of Global Payments Solutions, HSBC India, added, “We are excited to introduce a simple, comprehensive, and secure digital payment management solution that helps merchants reach a wider customer base and deliver a smoother checkout experience. We remain committed to strengthening our capabilities to offer tailored digital payment solutions to support merchants’ growth.”
Merchants on the DMS platform gain access to faster settlement times, seamless integration with existing systems, and enhanced insights into transaction flows, reducing operational costs while improving customer experience.
Mahanagar Gas Limited (MGL) is among the early adopters of the solution. Ashu Shinghal, Managing Director, MGL, said, “HSBC Digital Merchant Services aligns perfectly with our vision of enhancing customer experience through secure and seamless digital journeys. By leveraging this integrated payment platform, we aim to offer our customers a faster and more reliable online bill payment experience.”
Additionally, the DMS platform enables HSBC to collaborate with FinTechs, further strengthening its digital acquiring capabilities and integration with clients’ broader cash management and liquidity solutions.
