DOHA: HSBC has launched Virtual Cards for its Corporate Customers in Qatar. HSBC’s Virtual Card solutions give businesses the ability to generate single or multiple-use Virtual Card numbers to make bill payments or pay suppliers, without the need of a physical card.
“Virtual Cards give businesses increased visibility and accuracy of actual spend, on an easy to use platform, with minimum changes to their existing processes,” said Noor Adhami, HSBC’s Regional Head of Global Liquidity and Cash Management, Middle East, North Africa and Turkey.
Kashif Rauf (pictured), HSBC Qatar’s Head of Global Liquidity and Cash Management, said, “We are delighted to bring Virtual Cards to our customers in Qatar. As a bank, HSBC has made a strong commitment to investing in digital innovations to make banking simpler, better and faster for our customers – and introducing our Virtual Cards to Qatar is a key part of this.”
To process a Virtual Card payment, you simply need to log into the HSBC MasterCard Virtual Card platform and enter the payment details. This generates a unique, single or multiple-use card number to pay bills or suppliers without the need for a physical card. Key benefits include fraud prevention, enhanced security, greater control, improved transparency and easier accounting. To make payments users will need to pass a secure sign-in process to make payments and card details can’t be reused. Each item of spending is tracked using unique card codes.
HSBC’s Virtual Card transaction information can also be viewed through HSBC’s latest Corporate Card online card management system HSBC MiVision, which was launched in Qatar earlier this year.
HSBC MiVision provides HSBC’s Corporate Card customers with much greater visibility, control and analysis of the way their Corporate Cards are used. Through an intuitive dashboard available on desktop and mobile, customers are able to customise their reporting, extract whatever data they need, request new, block or replace cards, as well as view and manage statements.
