HSBC and Conferma have expanded their virtual card partnership to include supplier payments across Asia Pacific, specifically in Hong Kong, Singapore, and Malaysia. This development allows businesses to embed HSBC Virtual Cards directly into their existing enterprise resource planning (ERP), procurement, and accounts payable systems, eliminating separate payment steps and manual reconciliation.
The collaboration, which began in 2011 focusing on corporate travel, now extends to a broader range of business-to-business (B2B) transactions. Adam Williams, Head of Commercial, APAC at Conferma, highlighted the shift towards digital-first environments, stating, “Businesses across Asia are rethinking how they manage spend as digital transformation accelerates.”
The integration of virtual cards addresses the growing demand for seamless payment experiences and enhanced control over financial processes. Erika Yeung, Head of Commercial Cards, Asia Pacific at HSBC, noted that virtual cards are becoming a mainstream B2B payment method, extending beyond travel and expenses to modernise supplier payments.
The solution offers several benefits, including frictionless travel payments, embedded supplier payments, and enhanced visibility and control over transactions. As organisations aim to improve transparency and working capital management, virtual cards provide real-time insights and automate reconciliation processes.
This expansion is part of a strategic move to meet the projected $228b transaction value by 2028, as businesses seek to streamline operations and maintain control within their existing systems.
