HSBC has launched FX Flexpay, which lets clients make automated, international payments in more than 140 currencies, using a single Application Programming Interface (API).

FX Flexpay connects Global Disbursements - the bank’s process for cross-border, low value mass payments - with FX FlexRate, HSBC’s proprietary foreign exchange pricing technology that guarantees foreign exchange rates or offers them in real-time.

The solution aims to provide transparency over foreign exchange rates and an efficient operating model for global payments.

Gregory Edwards, global head of transactional FX at the bank, said: “Our corporate, institutional and sovereign customers will now be able to use Flexpay to make automated, overseas remittances or disbursements and other types of payments from a choice of more than 140 currencies.

“Clients can choose guaranteed or real-time FX rates, depending on their preferences – and pricing is transparent and reported on a trade-by-trade basis.”

HSBC’s global head of payment products Thomas Halpin added: “We are always looking to make payments processes simpler and faster, and to support clients in improving their operational efficiency.

“Embedding our payments and FX capabilities into a client’s own platforms makes the global payments process much more efficient.”

The solution has gone live in the UK and Hong Kong, as well as across Europe, the Middle East and North America.

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