Retail Collection

July 05, 2007 (LBO) – HSBC has tied up with Singer Sri Lanka, a household durables firm, to use its network of outlets to collects payments for credit card bill payments for cardholders outside the capital. HSBC customers can use 162 Singer outlets throughout the island to pay settle their bills.

“Our intention was to ensure that our customers who do not live in close proximity to an HSBC branch are not unduly hassled and the best way for us to do this was to tie up with companies with a wide outreach,” David Griffiths CEO, HSBC said.

Apart from the new outlets, HSBC has enabled credit card bill payments through post offices, selected supermarkets and bank branches, island-wide.

HSBC has 290,000 or a third of the 800,000 credit card market of the country.

Most of its 14-branch network is located around Colombo. With over 115 years in Sri Lanka, HSBC which started as a financier of the tea trade has moved strongly into personal banking.