HSBC India has announced the launch of HSBC Digital Merchant Services (DMS), a comprehensive digital payment management solution designed to simplify and streamline payment processes for e-commerce merchants across the country.
The platform enables merchants to accept multiple payment methods, including Mastercard, Visa, RuPay, UPI, net banking, and other digital options, through a single contract and interface, significantly reducing the operational complexities of dealing with multiple payment providers. The rollout will take place in phased stages across India.
By integrating payment acceptance, reconciliation, and reporting into one end-to-end platform, HSBC DMS eliminates the need for merchants to manage multiple vendor relationships.
The initiative aligns with the rapid expansion of India’s e-commerce market, which is projected to grow four-fold to $550 billion by 2035, making streamlined digital payments more essential than ever.
Ajay Sharma, Head of Banking, HSBC India, said, “The launch of HSBC Digital Merchant Services represents a pivotal step in our journey towards 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 remain committed to enhancing our digital capabilities and offering tailored payment solutions to support e-commerce merchants as they scale their businesses.”
Among the early adopters of HSBC DMS is Mahanagar Gas Limited, which is using the platform to improve the efficiency of its online bill payments.
Ashu Shinghal, Managing Director, Mahanagar Gas Limited, said, “By leveraging this integrated payment platform, we aim to offer customers a faster and more reliable checkout experience.”
Beyond merchant benefits, HSBC DMS also strengthens the bank’s ability to collaborate with FinTech partners, expanding its digital acquiring network and integrating payments more seamlessly into clients’ cash management and liquidity systems.
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