HSBC Licenses Merchant Software

HSBC has licensed online payment, risk management and authentication software from ClearCommerce, Austin, Texas, for its worldwide business banking portal for e-commerce merchants.

The ClearCommerce software will provide HSBC with fraud prevention and payment processing capabilities for its tens of thousands of online merchant customers worldwide. Support for a variety of payment types and more than 40 currencies, as well as interfaces with European anti-fraud initiatives.

Although HSBC was already providing some services through third-party alliances, it was searching for a software platform capable of maintaining card scheme compliance throughout the world. HSBC concluded that the ClearCommerce hosted software solution provided the best combination of robust features, flexibility and control.

"It was imperative we found a solution that was able to support our global merchant customers," according to Brendan Cook, head of group cards at HSBC Holdings. HSBC will first implement the ClearCommerce solution in the United Kingdom.

The ClearCommerce solution offers numerous administration features, such as real-time authentication, the ability to customize fraud protection to the individual merchant, and management and merchant level online reporting.