HSBC launches virtual debit cards for UAE businesses

SectorFinancial Services

HSBC has launched virtual debit cards for businesses in the UAE with a minimum annual turnover of $15 million. Complementing its existing HSBC Commercial Cards suite, which includes virtual credit cards, the new virtual debit cards reinforce the bank’s commitment to pioneering digital enhancements to meet the rising demand for more flexible, business to business payment solutions.Kailash Nair, Regional Head of Commercial Cards, Middle East North Africa and Turkey, HSBC, said: “The pace of digital adoption by businesses in the UAE has accelerated over the past 12 months, with an increased demand for more flexible payment channels. HSBC is investing to create a bank fit for the future and for us that means availing multiple digital options to suit the different needs of our diverse corporate client base. Launching Virtual Debit Cards is a prime example of the bank’s digital upgrades in action, by which we are able to bring to our clients more choice in making B2B payments.”HSBC’ more...