Saturday, 11 July 2020

Hang Seng announces major enhancements to digital payment services for retail and commercial customers

Hang Seng Bank announced two new developments as part of ongoing enhancements to its digital services.

The Bank’s personal and business online and mobile banking platforms, as well as its AI chatbot for retail customers, HARO, are now connected to the Faster Payment System (FPS) launched by the Hong Kong Monetary Authority.

Also announced by the Bank was the launch of ‘Hang Seng P.P (Pay & Paid) Payment Platform’ – a comprehensive one-stop digital payment platform that enables retail customers to enjoy greater payment convenience. A related promotional programme – which includes a FPS registration offer and a lucky draw with credit card spending rewards totaling HKD1 million – was rolled out at the same time.

Louisa Cheang, Vice-Chairman and Chief Executive of Hang Seng Bank, said: “Hang Seng welcomes the launch of FPS, which is a major milestone in the development of ‘Smart Banking’ in Hong Kong. As the city’s leading domestic bank with over 3 million clients, we are investing in technology to meet the evolving needs of our customers. We have upgraded our digital channels and introduced innovative payment solutions that will allow us to leverage the full potential of FPS to provide our customers with greater convenience and flexibility as part of an enhanced digital service experience.”

Customers can register to use FPS through Hang Seng’s online or mobile banking platforms by setting their Hang Seng account as their default FPS recipient account. Customers will be able to enjoy a more user-friendly and real-time digital interbank payment service experience when FPS becomes active on 30 September 2018.

New and enhanced services launched by Hang Seng in support of FPS include:

Personal Customers

Hang Seng P.P (Pay & Paid) Payment Platform: Available through the Bank’s Personal e-Banking and Personal Banking Mobile App, P.P is an integrated platform that covers transfer, payment and collection functions, including scan-to-pay, request-to-pay and split bills through QR codes, small-value peer-to-peer payments, interbank fund transfers and bill payments. Customers can also manage their transfer and payment limits and register new payees through the P.P platform. No handling fee will be charged for FPS payment transactions.

AI chatbot HARO: Building on its new ability to assist customers with managing their personal finances via Personal e-Banking platform, HARO can help customers make small-value FPS peer-to-peer payments through its chat interface. Customers can use speech or text-based inputs to interact with HARO and provide peer-to-peer payment instructions.

Promotional programme: From now until 31 October 2018, customers who successfully register their Hang Seng account as their default FPS recipient account will receive $10 in Cash Dollars.

The customer who initiates the greatest collective number of third-party fund transfers and bill payment transactions during the promotional period2 will be rewarded with HKD100,000 in free credit card spending1.
Customers who register for FPS or conduct designated transactions during the promotional period2 are entitled to lucky draw entries on a cumulative basis. Three winners will be rewarded with free credit card spending totaling HKD1 million.

Commercial Customers

Payment and collection solution: With the availability of the FPS payment function through the Bank’s Business e-Banking and Business Mobile App, commercial customers such as SMEs and online stores can collect real-time payments from their clients simply by providing them with their mobile phone number, e-mail address or FPS ID . No handling fee will be charged.

Commercial customers that make FPS outward credit transfers will also enjoy a handling fee waiver until the end of this year. Customers who successfully register their Hang Seng account as their default FPS recipient account will receive HKD25 coffee voucher.

Hang Seng One Collect POS terminal: The Bank plans to extend the service scope of its all-in-one payment collection service, Hang Seng One Collect, to allow merchants to accept FPS payments through their integrated point-of-sale terminals in 2019.

Re-disseminated by The Asian Banker

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