HSBC announced that its Visa credit card customers can now opt for “Visa Instalments” to pay at selected online stores of designated merchants.

They can pay by dividing the spending amount into smaller equal payments under instalment plans that offer zero interest and handling fee, with no new credit checks or additional lending.

In the first phase, HSBC and Visa collaborated with various merchants to roll out the solution on the e-commerce platforms of Catalog, Marathon Sports, Go Wild, Columbia, Arena, Cath Kidston, Chevignon, Crocs, Havaianas, Teva and UGG, with more to be introduced later this year.

From now to 31 August 2023, HSBC Visa Credit Card customers will receive up to US$200 RewardCash and an HKD50 e-voucher for using Visa Instalments at selected online merchants.

Amy Kam, Head of Cards and Personal Lending, Wealth and Personal Banking, Hong Kong at HSBC said,

“In response to changing customer needs, we have made ourselves the first bank partner with global digital payments leader Visa to launch this new instalment solution in Hong Kong, enriching our existing merchant instalment network covering over 4,500 online and physical outlets.

 

The partnership with Visa will provide customers with freedom and flexibility to get what they want immediately from popular online merchants, while staying on top of their budget.”

Paulina Leong, Head of Client Relationship Management, Hong Kong & Macau at Visa said,

“Supported by Visa Instalments, HSBC Visa cardholders can now enjoy more seamless payment experiences and repayment options at checkout by easily splitting purchases the way they prefer.

 

In addition, merchants can use the solution to offer their customers greater flexibility to pay for their purchases at the flick of a switch.”